The Federal Open Market Committee raised the benchmark interest rate four times last year but has signalled that it will backtrack given worrying signs in the United States and major trading partners.
Moments earlier, Trump continued his high-pressure campaign demanding more stimulus to the economy, telling reporters he wants to see a “large cut” by the Fed.Markets overwhelmingly expect the central bank will cut the key lending rate by 25 basis points on Wednesday – the first decrease in more than a decade – amid a slowing global economy hit by trade uncertainty and sluggish business investment.
But Trump seems to be calling for a deeper cut of 50 basis points or perhaps more – a move typically used only when the economy is experiencing a steep slowdown. The Commerce Department on Tuesday confirmed that inflation remained tame last month, meaning there is slim likelihood of a breakout in price pressures.
Source: Financial Digest (financialdigest.net)
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