This Week's State Of The Economy-What Is Ahead?

By: Taro Chellaram /Wells Fargo Economics & Financial Report/Aug 03, 2019

This Week's State Of The Economy-What Is Ahead?

How will Fed rates-cut and Trump 10% tariff on $300 Billion Chinese Goods countered by Chinese currency devaluation against Dollar, affect inflation and economic slowdown in US economy? Read the comprehensive reports from Wells Fargo Securities Economics Group. 

The Fed cut rates this week for the first time since December 2008, lowering the fed funds rate 25 bps to 2.25% in a move widely  telegraphed by Fed officials and wholly anticipated by financial  markets. Attention was more focused on the Fed's next move, and whether or not 25 bps would be sufficient to sustain the  expansion. Markets took the move as a mildly hawkish cut, with  the yield curve flattening and equities falling in response. Chair Powell gave investors a lot to digest in his post-meeting press  conference, particularly with his mixed messaging on whether or  not this cut was the start of an easing cycle. Powell termed it a mid-cycle adjustment but also indicated the Fed was not  necessarily done. We still expect the factors that necessitated this cut will compel the Fed to cut once more this year. Powell cited the downside risks from weak global growth and trade policy  uncertainty and sub-target inflation as reasons to insure against  an early end to the expansion.




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