Fed cuts rates to keep economy rolling
by Lynde Langdon
Posted 10/31/19, 10:42 am
Federal Reserve Chairman Jerome Powell expressed confidence in the U.S. economy despite manufacturing slowdowns brought on by the trade war with China. The Fed expects the quarter-point cut it made to short-term interest rates on Wednesday to be its last for a while.
How is the economy doing? Steady hiring and low unemployment are fueling consumer spending even though some prices have increased because of tariffs. China and the United States are in a trade truce right now, and the United Kingdom has pushed back Brexit, calming fears of significant disruptions to the global market in the near future.
Dig deeper: Read my report in The Sift about the latest developments in the U.S.-China trade war.
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