... but included language in its accompanying statement and economic projections that called into question whether there will be another rate cut this year or next.
The Fed announced it would cut the benchmark federal funds rate a quarter percentage point to a range of 1.75% to 2% Wednesday afternoon, but said in an accompanying statement that “sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2% objective are the most likely outcomes.”
Pressure from the administration is for more cuts. Personally I think there's a disconnect somewhere. Concern for inflation versus attempting to stimulate the markets. Stronger labor and economy should restrain further cuts yet many economists are calling for weaker expansion and stagnating markets. Push me pull me continues imo. And for that reason, this melt up market just may pick up speed until it runs into a brick wall.
