WASHINGTON - The U.S. Federal Reserve on Wednesday held interest rates steady and signaled borrowing costs will not change anytime soon, with moderate economic growth and historically low unemployment expected to persist through the 2020 presidential election.
The policy decision left the Fed’s benchmark overnight lending rate in its current target range between 1.50% and 1.75%, three-quarters of a percentage point below where it started the year. While the decision not to cut interest rates further may irk Trump, who has demanded even lower borrowing costs, the Fed’s underlying message that the U.S. economy is in a “good place” bodes well for the Republican incumbent’s reelection.
“I think we’ve learned that unemployment can remain at quite low levels for an extended period of time without unwarranted upward pressure on inflation,” Powell said. U.S. stocks rallied modestly after the decision, which had been widely anticipated by investors. The benchmark S&P 500index, which was largely flat when the Fed announced its policy decision, closed up about 0.3%.
If you think DJT is responsible for a positive Economy, think again it's simply the Rich feeding a little fuel into it to help protect the Morons numbers.💩
How can they predict the economy when they have no idea on the impact of the 3 cuts they already did? Also, the low dollar should increase gdp, no?
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