Veteran fund manager sends harsh message on Fed interest rate cuts
The longtime Wall Street money manager had a frank take on interest rates.
You’ve gotta feel bad for Federal Reserve Chairman Jerome Powell.
Since he took over, he’s had to manage the American economy through Covid, post-stimulus inflation, and a bear market in stocks.
His job isn’t getting any easier.
Nowadays, inflation has proven sticky even as job losses mount. Worse, President Donald Trump's harsher-than-hoped tariffs make interest-rate-cut decisions even more challenging. Cut rates and you risk fanning inflationary flames. Raise rates and you could send the economy into a recession.
