The Federal Reserve cut interest rates. It didn’t loosen monetary policy.

Barron’s/Matthew C. Klein

Graphic depicting Fed lowering rates“At first blush, this looks like a situation where the Fed has loosened policy. It is not. Instead, it is simply the next step in the ‘midcycle adjustment’ of monetary policy that began at the start of the year, as Fed Chairman Jerome Powell has put it.”

USAGOLD note:  This article lends credence to Trump’s criticism of the Fed.

Repost from 9-18-2019

This entry was posted in Today's top gold news and opinion. Bookmark the permalink.