The Fed Says ‘We Are the World” Central Bank Now

At this point, it’s pretty much a given that the Federal Reserve Board is going to cut interest rates at the Federal Open Market Committee meeting on July 30-31. However, there’s some interesting cognitive dissonance coming from the latest Fed beige book released last week. Domestic economic activity is seen expanding modestly amid trade fears, the Fed’s report said last Wednesday. The beige book survey is derived drawn from business contacts across the U.S. the central bank’s 12 region...

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