Fed FINALLY Cuts Rates …By Just One Quarter Point
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The United States Federal Reserve Of Money (USFROM) finally bowed to mounting pressure and cut interest rates for the first time since December 2024. Rates are now between 4% and 4.25%. Damn, so nearly blazed it.
There was a nine-month pause in rate cuts while the Fed waited for the dust to settle on Trump’s new economic policies. But the dust has never really settled, and banks have been getting impatient, so the Fed just went ahead anyway.
Trump has long been publicly unhappy about the delay, pushing for a rate cut to signal confidence in his leadership. Rather than taking steps to encourage confidence in his leadership, Trump resorted to threats and bullying, neither of which worked… until now, maybe?
Just A Little Bit Off The Top, Please
This is such a tepid reduction, it’s hardly a seal of approval. Merely a “risk management cut”, as Fed Chairman Jerome Powell described it. Beyond that, “It’s not incredibly obvious what to do.” A great thing to hear from the guy in charge.
JP said there could be more cuts to come, with one penciled in for later this year, hinting at a bullish future for the markets. But that’s just a hint.
Jay-Dog went on to say, “We have to live life looking through the windshield rather than the rearview mirror,” while stroking his long beard and becoming one with the universe.
There’s A Mole On The Inside
Not everyone stepped in line with Jay-Jay’s decision. One dissenter pushed for a bigger cut of a MASSIVE half-point cut. Oh, I wonder who that could have been? Oh, look, it’s the Trump-appointed Fed Governor Stephen Miran, sworn in just before the meeting. Surprise. SURPRISE.
Jeromey called the labor market one of “Low hiring and low firing,” but that’s coming from a man desperate to not get fired so I’m not sure how much I buy it.
“The concern is that if you start to see layoffs, there won’t be a lot of hiring going on,” he explained. So that’s a big reason for the cut, get unemployment back up without destabilizing prices.
Man, rock and hard place.
We’ll be monitoring this story closer ad not just because I’ve got money riding on this. Watch this space.
For more on this story, read this one: Hawk Tuah To Replace Jerome Powell as Fed Chairman
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