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Posted by: thepinetree on 07/31/2019 11:06 AM Updated by: thepinetree on 07/31/2019 11:06 AM
Expires: 01/01/2024 12:00 AM
:

Federal Reserve Drops Interest Rate to 2%

Washington, DC...Information received since the Federal Open Market Committee met in June indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been solid, on average, in recent months, and the unemployment rate has remained low. Although growth of household spending has picked up from earlier in the year, growth of business fixed investment has been soft. On a 12-month basis, overall inflation and inflation for items other than food and energy are running below 2 percent. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed.





Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. In light of the implications of global developments for the economic outlook as well as muted inflation pressures, the Committee decided to lower the target range for the federal funds rate to 2 to 2-1/4 percent. This action supports the Committee's view that sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2 percent objective are the most likely outcomes, but uncertainties about this outlook remain. As the Committee contemplates the future path of the target range for the federal funds rate, it will continue to monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion, with a strong labor market and inflation near its symmetric 2 percent objective.

In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its maximum employment objective and its symmetric 2 percent inflation objective. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments.

The Committee will conclude the reduction of its aggregate securities holdings in the System Open Market Account in August, two months earlier than previously indicated.

Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michelle W. Bowman; Lael Brainard; James Bullard; Richard H. Clarida; Charles L. Evans; and Randal K. Quarles. Voting against the action were Esther L. George and Eric S. Rosengren, who preferred at this meeting to maintain the target range for the federal funds rate at 2-1/4 to 2-1/2 percent.


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Economy Softening
Posted on: 2019-07-31 11:26:31   By: Anonymous
 
The indicators for the economy as chairman Powell warned is softening,why the rate cut.
The Midwest is in a recession due to trump's tariffs,manufacturing industries and the ag sector is in bad shape, a ripple effect which is also hurting local economies, the consumers spending less, also shocked by the extremely wet Spring.

It will be interesting to see what the effect will be to trump's base, mainly the red states in the middle section of the US.
In many polls, trump is losing support amongst the unemployed workers and farmers and allied businesses .
He can't win with only a 35% base.
His poll numbers have been a solid 38-40% approval, unchanged, and now slightly lower due to his lies and racist rhetoric. Americans generally are not racists, and in polls are very disappointed in this campaign strategy. He will lose using the politics of race and division.

United we stand, divided we fall...into fascism.


[Reply ]

    Re: Economy Softening
    Posted on: 2019-07-31 11:42:52   By: Anonymous
     
    Hopefully his base will fall to 5% - his ignorance is destroying our country, our values, our democracy, all the 80 years of progress we have made toward non-racism - let alone the effect all this is having on the wold in general.

    [Reply ]

      Re: Economy Softening
      Posted on: 2019-07-31 11:55:49   By: Anonymous
       
      There was a steel manufacturer manager in Michigan this week quoted he "doesn't give two shiz" about Trump making a few off color remarks or using bad words on occasion, so long as business is goo. His base doesn't care about the world though this may finally affect them in the only place they truly are concerned - their pocketbooks.

      [Reply ]

        Re: Economy Softening
        Posted on: 2019-07-31 11:57:51   By: Anonymous
         
        (sorry... so long as business is GOOD.)

        [Reply ]

    Re: Economy Softening
    Posted on: 2019-07-31 11:57:01   By: Anonymous
     
    I hope you're correct. A campaign based on prejudice and divisiveness worked for him last time around.

    [Reply ]

No Subject
Posted on: 2019-07-31 11:58:38   By: Anonymous
 
Your Fed - working hard at staving off the next recession.

[Reply ]

    Re:
    Posted on: 2019-07-31 12:32:51   By: Anonymous
     
    We need a qualified president and leader with values, morals and genuine care for all humanity. We have none.

    [Reply ]

      Re:
      Posted on: 2019-07-31 12:35:13   By: Anonymous
       
      Well put.

      [Reply ]

        Re: Making America GREAT Again!
        Posted on: 2019-07-31 12:52:24   By: Anonymous
         
        Finally The Fed is seeing things President Trump's way.

        Trump had intensified his broadsides against the Fed, on occasion calling the central bankers “crazy” for raising rates and intimating that Powell’s job could be in jeopardy. The president and his top economic advisor, Larry Kudlow, have called for a half-point cut and an immediate cessation to what Trump calls “quantitative tightening.”

        By the White House’s view, economic growth would be even stronger than the above-trend pace it has kept since Trump’s election. GDP rose 2.1% in the second quarter and 3.1% in Q1, and the unemployment rate is at 3.7%, close to a 50-year low. At the same time, the stock market has been trading around record levels.

        But Trump has insisted that without the Fed’s tightening, GDP growth would be somewhere north of 4% and the Dow Jones Industrial Average would be 10,000 points higher.

        Now that The Fed's Powell is taking Trump's advice we will Make America Even Greater Again.

        [Reply ]

          Nope
          Posted on: 2019-07-31 13:08:56   By: Anonymous
           
          If you look at any financial history of economic terms, this market is way over priced, and way past due for a lasting correction. The amount of debt in all sectors, the Federal debt ballooned by trump and his Billionaire pals , consumer debt, student debt and corporate debt is an anchor on the economy, the winds of cheap $ just cannot overcome. It is a world wide problem.The market was juiced by cheap $ , but will not work against the trump economic wrecking ball of tariffs, plus the trashing of the US reputation abroad.

          The Dow is down 334 at this writing, the market is taking into account why the Fed rate was cut- the facts of financial indicators across the board. The economy is softening, disregard this fact if you insist, also the Midwest recession .
          Denial is the hallmark of a trump cult member.

          [Reply ]

            Re: Nope /\/\ trump cult member
            Posted on: 2019-07-31 14:17:08   By: Anonymous
             
            Inre to last comment-FAKE NEWS!

            [Reply ]

              Re: Making America GREAT Again!
              Posted on: 2019-07-31 15:06:58   By: Anonymous
               


              Charles Barkley Says Voting Democrat Has Not Elevated Black People
              by WARNER TODD HUSTON 31 Jul 2019

              Broadcaster and former NBA star Charles Barkley slammed the Democrat Party in the wake of Tuesday’s debates, saying that the party has done little to elevate most blacks in America.
              The former Phoenix Suns star was in the audience during the July 30 Democrat presidential debates, but the former player was not impressed by what he saw telling reporters that “every black person I know has always voted Democratic,” but most are “still poor” despite that support.

              Barkley went on to slam the Democrats for ignoring minorities, saying, “It’s an economic thing, and that’s what both parties have been neglecting, especially the Democratic Party,” according to Yahoo News.

              “Every black person I know has always voted Democratic, and with the exception of a few guys who can play sports, all those people are still poor,” Barkley continued.



              [Reply ]

                Re: Making America GREAT Again!
                Posted on: 2019-07-31 17:55:07   By: Anonymous
                 
                Ya we all know how Republican policies would help Black folks.
                Believe this and you have a serious problem.
                Why does the Republican party do all it can to stop Blacks from voting?
                Yes, they are voting Democratic, if you look at the Republican policies towards them, you would see why if you had your eyes open.
                Call Dems the racists too I bet.

                There are none so blind as those who do not see.

                [Reply ]

                  Re: Making America GREAT Again!
                  Posted on: 2019-07-31 20:43:29   By: Anonymous
                   


                  There are none so blind as those who do not see.

                  Any American in the act of casting a ballot is "democratically voting".
                  They may be voting for a Republican, Democrat or Independent candidate, but they are still voting "democratically".

                  NEVER, Never in the history of this great nation has there been a president who brought such high employment numbers for African-Americans. JOBS!!
                  President Trump is Making America Great Again for ALL Americans.

                  Democrats still ride on disenfranchisement Agendas that reminisce of Jim Crow Laws, 40 Acres and a Mule, Segregation and Slavery with their legislation.
                  Socialism is like Plantation Management.

                  If Democrats were truthful,.....Why haven't they improved the lot of our African-American neighbors in over 50 Years as much as President Trump has done in 2?

                  Nobody has done More for the average American than Donald Trump,, Our President.

                  MAGA 2020!!

                  [Reply ]

                    Re: Making America GREAT Again!
                    Posted on: 2019-08-01 00:43:32   By: Anonymous
                     
                    I agree. Many voted for Obama hoping he could stop the rioting and bring the black people up. He did nothing for them. His main attention was at and for the rich white entertainers. It still is today.

                    [Reply ]

                    Re: Making America GREAT Again!
                    Posted on: 2019-08-01 09:12:36   By: Anonymous
                     
                    Your're joking, right?
                    "Nobody has done More for the average American than Donald Trump,, Our President."??????

                    What Fox Network show do you stay tuned to?

                    You're an idiot.

                    [Reply ]


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