“I think the market is very clearly expecting a cut this meeting. They’ve had ample opportunity to push back on that but no one has, so I think a cut is baked in,” McMillan said.
“The consumer is in solid shape, but retail sales have expanded at an inconsistent pace. That mandates the Fed take a little bit longer view to truly determine where things sit,” said Greg McBride, chief financial analyst at Bankrate.com. Goldman Sachs economist Spencer Hill also said this anticipated rate cut, which would be the third in as many consecutive meetings, is likely to be the last one in the near term.
Wall Street has always parsed the chairman’s words carefully for hints of future policy moves, but the increasingly divided makeup of the Fed board gives more weight than usual to Powell’s choice of descriptors. Today’s Fed board of governors has a very different makeup than it did 10 or even five years ago. While previous boards coalesced around a dovish consensus, today’s voting and non-voting members represent a wider array of economic viewpoints.
How wonderful for the mega-wealthy .... a funeral for average savers relying on CD interest rates to boost their moderate incomes 💀💸💀
This is not good news for the economy. Or so I thought.
Does that mean ALL the People will get Big Bonuses on their paychecks?😃 Nope...its means Donald J Trumps 'Family' can continue to Steal More, BEFORE they crash the Market.😏😎
The FED is cutting rates, adding billions of dollars in liquidity to markets, trying to keep it afloat until 2020 .They will run out of money before election and the market will crash. No one else is buying US debt, & China/Russia are getting rid of it. FED is only buyer in town.
Economy is going down , Trump's trickle down Corruption is not working ! realDonaldTrump WhiteHouse GOP !
basically the bank gets to use our money for free.
It’s going to - 00000.1, then everyone get money for free, which will eventually becomes useless or worthless paper to be viewed in the museum.
I though the economy was rip roaring, realdonaldtrump. If so, this is a bad idea. Which is it?
Bring on the recession.
WTF for?
It's the economy stupid! Winning
If next is zero....we’re in bigger trouble
Oof. Not good. But has to be done.
An entire generation is going to grow up knowing only 0% rates on savings accounts. I wonder the long-term consequences of that will be.
Better than nothing