Fed cuts rates after Trump ‘pressure’ | The Malaysian Insight

US Federal Reserve chairman Jerome Powell says central bankers shifting their policy stance as economic data changed over the course of the year. – EPA pic, August 1, 2019.

THE United States Federal Reserve, under intense pressure from President Donald Trump to stimulate the economy, yesterday cut the benchmark interest rate for the first time in more than a decade but struggled to justify the move or explain where it goes next. The move to ease the cost of borrowing was well telegraphed and meant to inoculate against global risks washing onto American shores but financial markets were whipsawed by confusion over whether another cut would be coming.

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