Jim Welsh is back… The Fed did it again, cutting rates another 25 basis points. Jim believes they’re cutting to head off poor economic news. If the news doesn’t come, then Jim believes they won’t cut at the next meeting. The Fed has some wiggle room. Perhaps it’s a move to keep the dollar from going higher to help exports. Reasonableness is no longer a factor in any discussions or actions about the economy. Maybe that will change.
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