Interest Rates, Unemployment, and CEFL
Depending on when you read this, the Federal Reserve will have likely either cut short-term interest rates, or will be widely expected to do so. A significant reason why the consensus calls for a rate cut at the July 31, 2019, open market committee meeting was an exchange at the most recent Congressional testimony of Federal Reserve Chair Powell. The result of that exchange was that Rep. Ocasio-Cortez, Federal Reserve Chair Powell and Larry Kudlow President Trump's top economic adviser all agreed that the economy can handle "much lower