Posted on August 12, 2019
This article was written following the early July testimony, before Congress, by US Federal Reserve Chairman Jay Powell. Mr. Powell stated that the Fed funds rate will be reduced, given lower than expected U.S. inflation. This follows on the heels of President Trump’s demands for lower interest rates to help support the economy and more specifically the US stock market. It remains to be seen whether the Fed will cut rates at their July meeting or by how much they will cut rates.