No need for the year’s third interest-rate cut in the US

The US Federal Reserve delivered its third, and probably final, interest rate cut of the year last week. The quarter-point reduction means that borrowing costs in the world’s largest economy now sit between 1.5% and 1.75%.

Quite why an economy at “full employment, chugging along at its sustainable growth rate of about 2%” needs a rate cut escapes me, says Irwin Stelzer in The Sunday Times. Fed chairman Jerome Powell worries that bad manufacturing data shows that the economy is...
source: Money Week

2019-11-07 22:05
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