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News — global economy

Fed Interest Rate Cuts Could Hurt World Currencies Down the Road

Posted by Metals Corporate on

By John McDonald On Wednesday, July 31, 2019, the Federal Reserve cut interest rates for the first time in a decade in an effort to sustain the country’s longest-running economic expansion ever. Citing “downside risks from weak global growth and trade tensions,” Fed chairman Jerome Powell said he hopes the quarter-point cut will ultimately keep the national economy going strong. Unfortunately, the immediate effects mainly consisted of the S&P 500 falling the most it had fallen in about a month (1.1 percent) and a fair amount of presidential criticism for the already beleaguered chairman. The Cut Could Hurt Global Currency...

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