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Wall Street Pushes Back At WH Campaign To Get Fed To Cut Interest Rates

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President Donald Trump and Vice President Mike Pence have recently called for the Federal Reserve to cut interest rates. Last week, the Commerce Department said gross domestic product grew at an annualized rate of 3.2% in the first quarter. The economy is roaring. This is exactly the time not only to not raise interest rates, but we ought to consider cutting them. Vice President Mike Pence But earlier this week, some of the biggest names on Wall Street pushed back against the idea, saying inflation would pick up soon. At the 2019 Milken Institute Global Conference, some of the world's most notable investors and economists pushed back against the need for rate cuts. The data is so overwhelmingly positive in the US that it would be very hard to cut rates at this point. I personally don't believe that the Fed will do it. Ronald O'Hanley President and CEO of State Street

Added on the 03/05/2019 18:00:05 - Copyright : Wochit

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