Mortgage rates lowered again this week. And that’s not all: Federal Reserve Chairman Jerome Powell and his colleagues look primed to cut rates by a quarter percentage when they meet July 30-31 in Washington.
While data on the U.S. economy is generally strong, policy makers have said they are monitoring the risks of slowing global growth and elevated trade tensions. The move is characterized as a recalibration. The downward adjustments would be insurance against external shocks and would keep the economy growing.
The case for a modest move — versus a more aggressive cut, or doing nothing at all — has a lot to do with U.S. economic data, as well as divisions among policy makers on the committee. Critics say that as long as the economy’s doing well it is not the environment for a rate cut.
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