Economy
November 2, 2019
CRU: Fed Rate Cut Will Enable Consumers to Continue to Drive U.S. Growth
Written by Lisa Morrison
By CRU Principal Economist Lisa Morrison
On Oct. 30, the Fed cut rates by 25bp as was widely anticipated (including by us), lowering the Federal Funds rate to a range of 1.50 percent-1.75 percent. Based on the Fed statement and comments during Chair Powell’s press conference, the Fed seems pleased with where monetary policy is, calling it “in a good place.” They perceive the risks from trade and Brexit to have diminished since the last meeting in September, though weak global growth was cited as remaining a concern.
