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What the Federal Reserve's rate cut decision means
- Published on Jun 19, 2019
- The Federal Reserve held rates steady but raised the prospect for two potential rates cuts this year, as policy makers continue to weigh the right time to act amid concerns over President Donald Trump's trade policies.
Jerome Powell, the president's choice to run the world's most influential central bank, is facing considerable pressure to keep the US economy steady. Concerns are intensifying that Trump's tariff strategy may end up hurting global growth.
The decision also comes as Trump continues to criticize Powell, suggesting he might still be willing to try to demote the country's top central banker.
CNN's Paula Newton talks to Eventshares Chief Investment Officer Ben Phillips and former JPMorgan Chase chief economist Anthony Chan about the impact on the markets and pending trade deals.
#RateCut #JeromePowell #CNNBusiness