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Michael Bloom’s Posts
Major Wall Street economists were largely in agreement that the Federal Reserve would cut rates by a quarter point heading into the second day of its two-day meeting on Wednesday afternoon.
But after a confusing news conference by the Fed chief, their forecasts for future rate policy are now all over the place.
The countdown is on to this weekend’s G-20 showdown between President Donald Trump and Chinese President Xi Jinping. Reports surfaced on Thursday that Xi was prepared to present terms of an agreement but that China wanted a deal with “balance.”
Major Wall Street economists believe the Federal Reserve will not cut rates on Wednesday, but will signal a “readiness” to act in the future.
Wall Street analysts reacted with great fanfare after Facebook finally revealed the details of its long awaited cryptocurrency, Project Libra, on Tuesday. Most analysts believe the crypto project will give the company a major boost and continue pushing Facebook to further greatness.