I'm not anxious to see a rate cut, but the markets keep churning along.Looks like a rate cut is coming..
S&P 500 jumps above 3,000 for the first time after the Fed chief signals a rate cut is coming
Joining the walkaway movement... I did when Gore Ran for President in 88.... He and Daddy Gore made a statement that turned me Republican.Please accept my apology for all my naysaying over the last decade or so. I was wrong about EVERYTHING. It's all going terrific! Make America Great Again!
Hmm, the economy is growing twice as fast as we saw in the Obamaconomy.Mmmmm
WASHINGTON—Federal Reserve Chairman Jerome Powell sent a strong signal Wednesday the central bank could cut interest rates later this month by highlighting how the economic outlook hasn’t improved in recent weeks.Mr. Powell also said he wouldn’t leave his office if President Trump tried to replace him.
After Fed officials agreed to hold rates steady last month, Mr. Powell strongly suggested they could lower them in the months ahead if an economic outlook clouded by uncertainty over trade policy and weakening global growth didn’t brighten. On Wednesday, he said recent data showed little reason to expect improvement. “The bottom line for me is the uncertainties around global growth and trade continue to weigh on the outlook,” Mr. Powell told the House Financial Services Committee.
But Mr. Powell spent far more time Wednesday detailing the risks to the economy. Pressed on whether the strong June jobs report last week, in which employers added 224,000 jobs, had changed the outlook, Mr. Powell said, “The straight answer to your question is ‘no.’”
Data on growth from Europe and China has continued to disappoint relative to expectations since Fed officials met in June, Mr. Powell said. Growth in business investment has “slowed notably,” he said, possibly reflecting worries about trade
Jerome Powell Says Outlook Hasn’t Improved in Recent Weeks, Setting Stage for Rate Cut