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The Case for More Fed Rate Cuts Is No Longer Strong
The Federal Reserve has now lowered its target interest rate for overnight loans between banks twice since the end of July. The central bank’s economic projections and Chairman Jerome Powell’s post-meeting press conference suggest policy makers aren’t quite ready to cut rates a third time, and will need to see either weaker economic data or an intensification of the U.S-China trade war to deliver that cut. As noted in their post-meeting statement, policy makers have a generally upbeat view of the economy. While they identified business investment and exports as weak spots, household spending and the labor ... (full story)
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