IEF - What The Market Did Every Time The Fed Cut Rates During An Economic Expansion
The market is now at record highs, and unemployment is way down. Even so, a U.S. rate cut is expected as early as this week. During his congressional testimony last week, Federal Reserve Chairman Jerome Powell raised concerns over slower global growth and trade tensions, which in turn have contributed to weaker demand and manufacturing activity. The most recent Global Manufacturing Purchasing Manager’s Index ((PMI)) showed that, at 49.4, factories contracted for the second straight month in June. We haven’t seen back-to-back sub-50.0 PMI readings since the second half of 2012.
There’s also a one-in-three