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The Fed's cut was in-line with consensus expectations. Their future outlook will certainly not please our President. Chairman Powell's position that we are in a "mid-cycle adjustment" seems to be what has driven the Fed to their conclusion. This viewpoint, I believe, is in error.
What is missing in their statement is a recognition that American rates are so much higher than European and Japanese rates and the effect that this has on our economy. It is almost as if they are purposefully ignoring the collateral damage that this is having on the dollar and