Federal Reserve cuts growth forecast, predicts no more rate hikes in 2019
Source: The Washington Post
By Heather Long March 20 at 2:09 PM
The Federal Reserve is becoming more worried about the U.S. economy, citing slower consumer and business spending. On Wednesday, the central bank cut its growth forecasts, left interest rates unchanged and indicated it won’t do any hikes this year.
The Fed also announced it would conclude its balance sheet reduction by September, a relief for Wall Street and in line with what President Trump wanted. The actions Wednesday signal the Fed will do whatever it can to keep the current expansion going.
The Fed entered 2019 predicting the economy would grow 2.3 percent and two more rate hikes would be necessary to keep the economy from overheating. On Wednesday, the Fed cut its growth forecast to 2.1 percent, and the vast majority of Fed leaders now predict no interest rate increases this year.
Interest rates are currently at a range of 2.25 percent to 2.5 percent, the highest level in a decade, but still low by historical standards.
Read more: https://www.washingtonpost.com/business/2019/03/20/federal-reserve-cuts-growth-forecast-predicts-no-more-rate-hikes/
= new reply since forum marked as read
Conversely, as Gore was gearing for his 2000 run, Greenspin began jacking up rates like there was no tomorrow.
"Inflation fears" and "irrational exuberance" were the stated excuses.
The real reason, of course, was this:
"Whaddaya think, Dick? Ya think Greenspan's gonna slow that darn economy enough for us to win this thing?"
gonna prop up the orange anus and try to prevent a crash until after the 2020 election.
pukes' dream scenario: crash just as Democratic president sworn in. Inverse of raygun grinning and palming the buybul as the hostages were released--this time, screamers on financial channels blaring economic doom while markets tank at precise moment the new President assumes office.
THAT's the 800-lb gorilla in the room that dirty donnie doesn't know or care about. Together with the looted treasury thanks to the tax scam = good luck with the next recovery.
Of course, if pukes are successful in holding off the downturn until after the 2020 election, and a Democratic president wins, then it's all good that the Dem has a harder time turning things around.
