As federal interest rates stay put, locals call for economic relief
UNLV Professor and Research Director for the Center for Business and Economic Research, tells me he expected Powell to stay the course.
“He’s keeping his options open because of high uncertainty and he wants to see what’s happening in the economy first and then they’ll decide on what to do with interest rates,” said Miller.
At a press conference in Washington D.C. Wednesday, Powell was still promising two rate cuts this year.
He said that could push interest rates down to 3.9%, which is down from the current 4.25%-4.5% rates.
Powell also expects inflation to drop to 2% in the next 2 years as of now, regardless of the actions made by the Trump Administration.
“It may give people more confidence in the fed, but the fed is not the only one running the train at the moment,” said Miller.