Fed's Mester: U.S. likely to avoid serious downturn; content to keep rates steady

CLEVELAND - The U.S. economy will likely skirt a serious downturn despite current risks from trade and a slowing global economy, Cleveland Federal Reserve President Loretta Mester said on Thursday, arguing that absent evidence of a “material change” in the outlook the central bank should not cut rates any more.

“You don’t relitigate those things,” she said. “What I am looking at is, is there evidence that the slow down in the business side is becoming broader and impacting the consumer side and labor markets?” “The economy has been resilient through other situations that look like this,” she said, comparing the current sense of global weakness to a soft patch the economy hit around 2014 without going into recession.The Fed has cut rates twice this year, in July and September, lowering them to a range of between 1.75% and 2% on the grounds that an economy buffeted by an uncertain global trade environment needed some support to keep a decade-long recovery under way.

If manipulating the market is the ONLY WAY TO MAINTAIN IT... it's time to PlAN THE RECESSION, not JACK UP A FALSE ECONOMY so it crashes HARDER!!!! GREEDY MONEY MORONS!!!

who needs cuts when you have open market operations like JP said... hopefully one day we don't need them 😂

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