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Now the market thinks the Fed could make an even deeper cut to rates later this month
Like Ben Bernanke and Janet Yellen before him, Federal Reserve Chairman Jerome Powell may be worried that the central bank’s use of extreme policy during the financial crisis left him with a relatively small amount of fire power to head off the next economic decline. That may make the idea of a so-called insurance rate cut later this month, an attractive option for the Fed chair, who looks determined to cut interest rates even as the domestic economy appears to be showing some signs of strength. “It’s pretty incredible how strong the data has been. We added 224,000 jobs. We had an extraordinarily strong retail ... (full story)
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