But in his own way (very demure, very mindful) that is what happened Wednesday when he announced the Fed’s first rate cut in four years, a giant half-point reduction that will lower the cost of borrowing and offer financial relief for consumers and businesses.
Whenever a reporter asks him about politics, Powell refuses to bite.
Like on Wednesday, when he was asked whether the half-point rate cut had political motivations, he responded with something approaching exasperation.
It’s just maximum employment and price stability on behalf of all Americans.”Of course, that’s unlikely to stop either party from using the rate cut news to their advantage, given that the economy is the No.
Trump can continue to claim that a rate cut is a sign the economy is weak.
Persons:
CNN Business ’, Jerome Powell, That’s, ” Powell, “ We’re, Republican Sen, Tommy Tuberville, “, Kamala Harris, ”, it’s, It’s, Jason Furman, Donald Trump, they’re, Pubkey, ” Trump, Powell, He’s, Joe Biden, Powell isn’t, Barack Obama, don’t, Harris, Biden, Steve Sosnick
Organizations:
CNN Business, New York CNN, Republican, CNN, Trump, Fed’s, Governors, Interactive Brokers, Fed
Locations:
New York, America, Alabama, New York City, Trump