I think the Fed is intentionally harming the economy to make President Trump look bad. It is like all of the fudging of employment and economic data that the federal agencies are doing. And they have been fudging data to make democRATs look good and Republicans look bad for a long time.
It hurts to believe they would be so crass and political. It’s even more difficult to believe they aren’t. There may be another explanation, but it’s pretty clear deranged democrats would hurt Americans to score better in the mid terms. I’ve yet to hear another rational reason for this stalling in rate cuts. Sick people in high places.
One comment I heard out of Powell I have not heard anyone discuss. In addition to the 25 bp rate cut, he said the Fed would be reducing securities holdings. That is accomplished with open market operations selling securities that the Fed holds. When they sell securities, cash is removed from the economy, which, to some extent, offsets the rate cut.
When...WHEN are you fellas going to see that these people are ENTRENCHED in the Federal agencies????