Mon, 2019-06-17 04:17
WASHINGTON: As President Donald Trump’s trade wars drag on, and the global economy weakens, the US Federal Reserve is inching closer to its first interest rate cut in more than a decade.
But investors hoping to see the benchmark lending rate begin to drop this week are almost certain to be disappointed.
After preaching patience and leaving rates untouched since December, financial markets will be watching closely for a change of tone from the central bank and its chairman, Jerome Powell, and a sign the Fed is ready to step in to boost the economy.
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