To Cut Or Not To Cut
The Primary: Federal Reserve Chairman Jerome Powell announced that the Federal Reserve lowered interest rates by a quarter percentage point on Wednesday.
Who? What? Why?: The move was an attempt to try to buffer the economy from the dreaded "R" word 🤫(recession...oops) amid signs of a global economic slowdown exacerbated by the U.S.-China trade war.
The Baseline: Now, the question is whether another cut is coming. “Markets have been looking to the Fed for more concrete promises of rate cuts, but Mr. Powell has been reluctant to make any," reports the WSJ. "The trade-related risks are out of the Fed’s control and difficult to predict, and officials are divided over how to respond."
What Trump had to say: “Jay Powell and the Federal Reserve Fail Again,” Trump tweeted. “No ‘guts,’ no sense, no vision! A terrible communicator!”