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Fed Cuts Again As Powell Braces For Trump
The Fed cut rates by a quarter-point on Thursday, as expected.
I don't think there was a data-based case for moving so quickly after September's half-point cut, but 25bps points isn't going to make a difference either way, so no harm no foul, I guess.
The statement was anodyne, but there were a couple of notable tweaks. The Committee changed its assessment of the labor market to say conditions have "generally eased." In September, they were more emphatic -- the last statement declared that job
Let’s face it, Powell is a dead man walking. Trump wants sycophants at every level of government and I imagine Powell will be one of his first targets to replace given their history and his promise to “fix it”. Fix inflation how? Loosest monetary policy in the history of the world! The hand wringing about how we’re going to pay for things? Trump’s in charge now so flip back to the ole reliable ‘gotta spend money to make money’.