Rate Reduction

Despite just a thin majority of Fed interest rate setters supporting the last Fed cut, they will again cut rates in mid-September. This is because trade concerns have worsened, and more importantly, job growth for the year ending 3/31/19 was just revised down by 42,000/month! This means despite tax cuts, the economy and job growth were meaningfully weaker than the Fed thought as they were raising rates in 2018.

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