The FERAL Reserve still has yet to cut interest rates, and despite the Dow Jones recently hitting 40,000, the risk of recession is apparently growing by the day. And after falling dramatically from its 2022 peak of 9% once the pandemic-induced (more like lockdown-induced) supply chain issues and shortages got resolved, inflation currently remains stubbornly stuck in the neighborhood of 3%. Because Jerome Powell is too stubborn to cut rates, thus keeping us trapped in a quagmire. Hello, stagflation!
A recession is probably already baked into the cake at this point, and thus is probably too late to avoid entirely. Granted. But the Fed can still at least delay the onset, reduce the length and severity, and promote a speedier recovery IF they would deign to cut rates yesterday. And even just delaying the onset by a quarter or two would likely postpone it until after the November election, reducing the odds that the Donald would win again.
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