Tag: rate cut
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.
The Fed cut the federal funds rate by a quarter of a percentage point yesterday to 1.5%–1.75%. The move was the Fed's third rate cut this year.
Analysts expect Citigroup’s (C) EPS to increase at a double-digit rate in the coming quarters, which makes its valuation lucrative.
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.
The Fed's stance for upcoming interest rates will be clear when it releases the September meeting minutes on Wednesday. Policymakers seem to be divided.
In a second consecutive instance of monetary easing, the Fed cut the federal funds rate by 25 basis points to 1.75%–2% yesterday.
Yesterday, in a series of late-night tweets, President Trump attacked the Federal Reserve and Jerome Powell again, calling them “boneheads.”
President Trump continues to push the Federal Reserve for a big rate cut. Today, in a tweet, the president called the Fed a “problem.”