James Downie is a writer and editor for MSNBC Daily. He was an editor and columnist for The Washington Post and has also written for The New Republic and Foreign Policy.
On Wednesday, the Federal Reserve announced it is leaving interest rates unchanged at around 5.3%, their highest level since 2001. Federal Reserve Chair Jerome Powell suggested that one or two rate cuts could come before the end of the year — but almost certainly not until fall. Wednesday’s decision to maintain current rates, though, was a mistake: The Fed should be cutting rates already. And every month it refuses to do so is a gift to Donald Trump.
In the push and pull between fighting inflation and avoiding recession, other central bankers are beginning to lean toward the latter. The notoriously inflation-averse European Central Bank, as well as central banks in Canada, Switzerland and other countries, have cut rates. Yet the Fed is persisting. The problem is that, by design, higher interest rates are not victimless. The very point is to put a brake on economic growth by making consumers reduce spending.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Inflation falls for first time in 2024, but remains higher than Federal Reserve's goalJustin Boggs is a writer for the E.W. Scripps company. Justin covers anything from politics to sports and entertainment.
Les mer »
Thomas Massie introduces bills to audit, abolish the Federal ReserveLegislation has been introduced by Rep. Thomas Massie, R-Ky., has that seeks to end the Federal Reserve central banking system which has been in operation since 1913.
Les mer »
Federal Reserve Chair Jerome Powell working from home after testing positive for COVID-19Federal Reserve Chair Jerome Powell has tested positive for COVID-19 and is experiencing symptoms. Powell tested positive late Thursday. A spokesperson said Powell is following guidance from the Centers for Disease Control and Prevention, and he is staying away from others and working at home.
Les mer »
Federal Reserve Chair Jerome Powell working from home after positive COVID-19 testFederal Reserve Chair Jerome Powell has tested positive for COVID-19 and is experiencing symptoms
Les mer »
Rep. Massie gives gun-grabber David Hogg a reading lesson on the federal reserveThe late Austrian economist Murray Rothbard once said, “It is no crime to be ignorant of economics … But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.” Apparently, Parkland school shooting survivor David Hogg never got Rothbard’s memo.
Les mer »
Top 5 Cryptocurrencies to Watch if the US Federal Reserve Cuts RatesCrypto Blog
Les mer »