It looks like Jay Powell is blinking in his battle with President Trump over rate hikes — and Wall Street is cheering. The Federal Reserve…
It looks like Jay Powell is blinking in his battle with President Trump over rate hikes — and Wall Street is cheering.
The Federal Reserve Chairman on Tuesday said interest rates are “just below” their neutral level — suggesting that the Fed will not have to aggressively raise rates to tamp down an overheating US economy.
That’s a big shift from early last month, when Powell rattled markets by saying the central bank is “a long way” from getting rates to a neutral zone, where they’re neither speeding up nor slowing down the economy.
