Fed chief Jerome Powell doesn't plan to cut interest rates soon

Federal Reserve Chairman Jerome Powell stuck to his view that interest rates probably would stay put for a time, though he signaled that the U.S. central bank could resume cutting if the economy’s growth outlook faltered.

Explaining why wages haven’t moved up even though the unemployment rate is near a historic low, at 3.6%, Powell said it could be a sign that there was still slack in the labor market. “It also may be that the neutral rate of interest is lower than we have been thinking and that therefore our policy is less accommodative than we have been thinking. We are letting the data speak to us.

“We’re paying actually high interest. We should be paying by far the lowest interest,” Trump said Tuesday in New York, complaining that by shunning the negative interest rates some other central banks have deployed, the Fed “puts us at a competitive disadvantage.”

Need some room if there is a Recession...if the rates bottom out now...recovery from a possible Recession will take more than 10 years.

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