Be Happy…..
“The Federal Reserve voted to lower interest rates by a half percentage point, opting for a bolder start in making its first reduction since 2020,” the Wall Street Journal reports.
“The long-anticipated pivot followed an all-out fight against inflation the central bank launched two years ago….,
Bull Shit Jerome
“Federal Reserve Chair Jerome Powell suggested that Wednesday’s larger-than-expected interest rate cut may have a limited effect on the presidential race between Vice President Kamala Harris and Donald Trump, because the decision’s impacts will ripple into the economy slowly,” CNBC reports.
Trump Accuses Fed of ‘Playing Politics’
Donald Trump said the Federal Reserve’s decision to cut its benchmark interest rate by half a percentage point on Wednesday showed the U.S. economy was either “very bad” or the central bank was “playing politics,” the Financial Times reports.
Said Trump: “I guess it shows the economy is very bad to cut it by that much, assuming that they are not just playing politics. The economy would be very bad, or they are playing politics, one or the other. But it was a big cut.”