Fed Just Cut Interest Rates - Here’s What It Means! (Jimmy Dore)

The bigger-than-expected cut in interest rates by the United States Federal Reserve may have sent the stock market cheering, but its impact on the economy, and the upcoming presidential election, is mixed, experts say. The US Fed on Wednesday cut the benchmark federal funds rate by half a percentage point to the 4.75 percent to 5 percent range “in light of the progress on inflation and the balance of risks”, the rate-setting committee said in a statement.

Jimmy and Colonial Metals’ Paul Stone discuss the upside and downside to the Fed’s rate cut and why it’s far from a panacea for what ails the U.S. economy.



It looks like they're trying to stave off a recession. The money printing can't be easily turned off with everything jacked up via funny money. A price correction is needed to reflect the reality of the underlying economy and they won't allow it. 

[Posted at the SpookyWeather2 blog, September 27, 2024.]