Trump Is a Better Forecaster Than the Fed

So the Fed did what everybody expected them to do, by cutting their target rate by a quarter of a point.
Over the past year, they have reduced that rate by 175 basis points. And it now stands at three and a half and three quarter percent.
Noteworthy, in today’s meeting, there were three dissents. President Trump’s man Stephen Miran wanted a half a point cut. President Obama’s man Austan Goolsbee didn’t want any rate cut. And the the Kansas City Fed’s Jeffrey Schmid also voted against the rate cut.
Stock markets roared with the Dow up almost 500 points, the S&P 500 almost hitting a new high,…
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