Powell Preference and FOMC Split Support Quarter-Point July Cut

From bnnbloomberg.ca

Federal Reserve Chairman Jerome Powell and his colleagues look primed to cut interest rates by a quarter percentage point later this month, eschewing a bigger move in what would be their first reduction in borrowing costs in more than a decade. Faced with slow global economic growth and elevated trade tensions, the policy makers are also likely to leave open the possibility of further cuts down the road as they seek to sustain the record-long U.S. economic expansion. “I’d like to go 25 basis points at the upcoming meeting,” St. Louis Fed President James Bullard, a 2019 voter and one of the central bank’s most ... (full story)