Tag: jerome powell
Jerome Powell tossed the ball back into President Trump’s court. He trade development and global growth weakness as the top reasons for the rate cuts.
Shares of large US banks including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo were trading in the green in the after-hours.
The Fed is scheduled to meet this week. With the S&P 500 at record highs, could the Fed play spoilsport at this week's meeting?
On Tuesday, Fed Chair Jerome Powell expressed willingness towards interest rate cuts amid the slowdown. So far, the Fed has cut the rates twice this year.
Fed Chair Jerome Powell has already raised doubts about President Donald Trump's trade war and its effect on the US economy.
In a second consecutive instance of monetary easing, the Fed cut the federal funds rate by 25 basis points to 1.75%–2% yesterday.