Economic Preview: An economy gone ‘mad?’ The Fed is going to cut interest rates despite record stock prices, low unemployment

“It’s A Mad Mad Mad Mad World,” all right. The Federal Reserve is ready to cut interest rates even with stocks hitting record highs and the unemployment at the lowest level in almost 50 years. It’s a mad, mad, mad, mad world. Or so one might believe looking at the U.S. economic picture. Consider: Stocks…

Economic Preview: An economy gone ‘mad?’ The Fed is going to cut interest rates despite record stock prices, low unemployment

“It’s A Mad Mad Mad Mad World,” all right. The Federal Reserve is ready to cut interest rates even with stocks hitting record highs and the unemployment at the lowest level in almost 50 years. It’s a mad, mad, mad, mad world. Or so one might believe looking at the U.S. economic picture. Consider: Stocks are hitting record highs and layoffs and unemployment are at 50-year lows. Yet the Federal Reserve is prepared to cut interest rates soon because it’s worried about the economy. Such it is in the era of Trump. The president, who’s demanded the independently run central bank cut rates, is probably going to get his wish. And largely because his very own policies are what have the Fed worried. The central bank frets that White House trade clashes with China and other countries have hurt farmers, manufacturers and exporters, crimped business investment and slowed the U.S. economy. Read: Powell says economy was hit by ‘confidence shock’ — it has only partly recovered The global economy has fared even worse with the fate of so many countries tied to China. “Global growth has slowed,” said Mark Haefele, glob
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