This article appeared online at TheNewAmerican.com on Wednesday, July 31, 2019:
President Donald Trump wants Jerome Powell, the chairman of the Federal Reserve, to cut the Fed Funds rate by a full percentage point Wednesday afternoon. Powell is certain to give him just one-quarter of that, with the possibility of more cuts soon.
The president has expressed regret repeatedly about his appointment of Powell as head of the country’s central bank, blaming him for raising rates four times last year, nine times since 2015, intentionally slowing his economy just as his reelection campaign is heating up.
The last time the Fed cut rates was in