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FEX - Weekly Edge: Powell Sets Hopes For A Rate Cut In July
First Trust Large Cap Core AlphaDEX Fund
By Daniel Poppe
Federal Reserve Chairman Jerome Powell said Wednesday that "the economic outlook hasn't improved in recent weeks, a strong signal the central bank could cut its benchmark short-term interest rate when officials meet later this month," The Wall Street Journalreports.
Many factors contribute to the economic outlook, including trade, inflation, and the strength of the global economy. At this point, the Fed is faced with conflicting data. On one hand, consumer spending and labor markets have been healthy. On the other hand, "growth in business investment has 'slowed notably', [Powell] said,