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Fed cuts rates but draws fire from Trump

  • Regular
  • US Market
  • 3 weeks ago
  • 14

US Federal Reserve Bank has cut its interest rates by 25 basis points, to a range of 1.75 to 2% gave a clear indication that it will be the last for the year, although referring to the current trade war with China and an equally amounting pressure from US President Trump who did not waste any time in attacking Jerome Powell via social media.

“Jay Powell and the Federal Reserve Fail Again. No “guts,” no sense, no vision! A terrible communicator!”

It is the second cut this year from the Fed which was in line with the expectations of investors and economists however the central bank’s projections indicated a more hawkish line than markets had anticipated.

 

 

Source: Smart Trend Team