The Federal Reserve left borrowing costs at historically low levels on Wednesday.
The central bank predicted a target range of 1.5% to 1.75% would keep the record expansion on course in its 11th year. The Federal Reserve left borrowing costs at historically low levels on Wednesday and signaled that there was no immediate need for further action following a round of stimulus measures in the second half of 2019.
Concerns about a potential downturn and ongoing trade tensions had led policymakers to reverse course this summer and slash interest rates three times last year, the first time it had taken such actions since the financial crisis. The policy-setting Federal Open Market Committee has taken a less cautious tone since then, also leaving rates unchanged in December.
But steep tariffs are set to remain on thousands of products until at least November as the US and China negotiate a broader economic agreement. Economists say the dispute will continue to weigh on key sectors like manufacturing, which slipped into a mild recession last year.
You have to ask yourself - who is this benefitting most in the long run and who is going to hurt in the long run? I think the Fed is being short-sighted on many levels.
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