Wednesday, September 18, 2019

Kansas City Fed Against Prez Trump Rate Cut

The White House is critical of KC area financial conservatism . . .

Trump slams Powell and Fed ahead of meeting, calls for 'big' rate cut

Reminder that locals oppose the bold move to keep the economy running at full speed . . .

"Besides unsettling some market pros, the Fed is also expected to face opposition from within, with at least two Fed presidents again dissenting to a rate cut. At the last meeting, Kansas City Fed President Esther George and Boston Fed President Eric Rosengren, objected to the first cut on the grounds it was unwarranted given the strength of the economy."

More than anything else, this bit of economic news impacts local financial fortunes. Read more:

Fed expected to cut rates and Powell may have hard time appeasing critics inside and outside Fed

The Fed is expected to cut rates Wednesday, but it is unlikely to tell markets what they want to hear on future rate cuts.

2 comments:

Anonymous said...

Working for our insufferable clown POTUS must be miserable.

Anonymous said...

So the Fed is continuing to address the Trump slowdown and recession. So much winning...