“A small rate cut is not enough”... is what the president had to say to the Fed on Twitter today.
President Donald Trump on Monday made it clear that he wants more than a quarter-point interest rate cut from the Federal Reserve.....countries that know how to play the game against the U.S. That’s actually why the E.U. was formed....and for China, until now, the U.S. has been “easy pickens.” The Fed has made all of the wrong moves. A small rate cut is not enough, but we will win anyway!
Only a few economists, including Vincent Reinhart, chief economist at Standish, think the Fed should engineer a half-point cut.In an interview with MarketWatch, Goldman Sachs chief economist Jan Hatzius said it would be odd for there to be only one quarter-point cut. But Hatzius and many other economists think the Fed might only cut twice, and disappoint a bond market that has three rate cuts priced in for this year.
Instead, the Fed believes it is tweaking rates in order to prolong the expansion, more of an “insurance” cut.“This early in the easing cycle, the Fed “itself doesn’t know how far it needs to go from here,” said Avery Shenfeld, chief economist of CIBC World Markets in Toronto, in an interview.
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