Fed cuts rates to keep economy rolling
Federal Reserve Chairman Jerome Powell expressed confidence in the U.S. economy despite manufacturing slowdowns brought on by the trade war with China. The Fed expects the quarter-point cut it made to short-term interest rates on Wednesday to be its last for a while.
How is the economy doing? Steady hiring and low unemployment are fueling consumer spending even though some prices have increased because of tariffs. China and the United States are in a trade truce right now, and the United Kingdom has pushed back Brexit, calming fears of significant disruptions to the global market in the near future.
Dig deeper: Read my report in The Sift about the latest developments in the U.S.-China trade war.
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