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timeletsIn the National Association for Business Economics October survey, 53% cited trade policy as the key downside economic risk through 2020.
On Wednesday the Fed continued trying to counter that risk by cutting the fed-funds rate for the third time this year to between 1.5% and 1.75%. With inflation at about 1.7%, this means the Fed is underwriting negative real interest rates even with the economy growing 2% and the jobless rate at an historic low of 3.5%. This is not tight policy.
https://www.wsj.com/articles/adam-smiths-revenge-11572475800
What are they going to do when the economy stops growing?
