Everyday Economics: Rate Cut Debate
The Federal Reserve cut interest rates, but the decision was not unanimous. Two members of the Federal Open Market Committee (FOMC) dissented, revealing deep disagreement about the economy's direction.
President Donald Trump spoke with Federal Reserve Chair Jerome Powell in July in Washington. The dissenters had opposing views: one wanted no rate cut, while the other favored a more aggressive half-percentage-point reduction.
The Fed faces an extraordinary handicap: it's flying blind.
This split is challenging, especially under current circumstances.
Author's summary: Fed's rate cut decision reveals deep disagreement.
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