Federal Reserve Board Chairman Jerome Powell speaks at a news conference after a Federal Open Market Committee meeting in Washington, DC, on June 19, 2019. – Powell said Wednesday that many central bankers feel the case for a rate cut has “strengthened” but that they want to see more data before moving.
“Despite a Federal Reserve that doesn’t know what it is doing… we are on course to have one of the best Months of June in US history,” Trump tweeted, arguing that lower rates would have driven GDP growth rates as high as five percent. A single member of the Fed’s rate-setting Federal Open Market Committee pushed for an immediate cut to help preserve the economic expansion.
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