Business Rundown: A Big Rate Cut Meeting Approaches. Is The Fed "Behind The Curve" Again?
Description
The August Consumer Price Index gave the Fed the vindication it was looking for: inflation fell to 2.5 percent.
While core inflation remains sticky, Fed Chair Powell has projected confidence in a September rate cut. The decision will be made next week, when economists and investors anticipate the Central Bank will enact its first basis point cut since July 2023.
But how much to cut rates is still unclear. FOX Business correspondent Kelly O’Grady speaks with founder and manager of Capitalist Pig Hedge Fund, Jonathan Hoenig, about what kind of decision the Federal Reserve may make next week and what to make of former President Trump’s new proposals to eliminate taxes on overtime pay.
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