Donald Trump had his own interpretation of the Federal Reserve’s jumbo interest rate cut this week — and it was characteristically gloomy.
Wednesday’s decision to slash rates by an unusually large half point, the Republican presidential contender suggested, was indicative of a US economy that was in “very bad” shape.
Within the walls of the Fed, America’s economic prospects are viewed very differently. Even as the US central bank signalled more rate cuts were to come — and quickly — Jerome Powell, the Fed chair, delivered a strikingly bullish verdict on America’s economic health.
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