Former Federal Reserve Official: We Need to Be Very Cautious About Cutting Rates

Former Federal Reserve Official: We Need to Be Very Cautious About Cutting Rates | Thomas Hoenig

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Last week, Federal Reserve Chairman Jerome Powell announced in his much-anticipated speech in Jackson Hole that "the time has come to adjust policy."

Global markets now expect with 100% certainty that the Federal Funds Rate will be cut at the upcoming meeting in September.

In the words of Nick Timiraos, chief economist of the Wall Street Journal and presumably a spokesman for the Federal Reserve: "The Powell turn is complete."

Is that indeed the case?

And if so, what can we expect in terms of the speed and depth of rate cuts?

What are the expected effects on the economy? And which will be felt soon, and which perhaps only in a few quarters?

And finally, is this the right policy move for the Fed to pursue?

To provide you with a truly expert, well-informed perspective on these very important questions, today we have the privilege of speaking with Dr. Thomas Hoenig, former CEO of the Kansas City Fed, former voting member of the Federal Open Market Committee, former director of the FDIC, and now Distinguished Senior Fellow at the Mercatus Center.

Follow Dr. Hoenig at https://www.discoursemagazine.com/ or https://www.finregrag.com/

#federalreserve #inflation #interestrates
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