While President Trump has urged the Federal Reserve to slash interest rates to strengthen the economy, the head of the Federal Reserve Bank of Boston warned Wednesday further rate cuts could come at a cost.
Eric Rosengren, president of the Boston Fed, told the Washington Post the U.S. economy is “relatively strong” due to the low unemployment rate, increasing wages, and economic growth due to strong consumer spending. But he warned against cutting interest rates now until the effects of the president’s ongoing trade war with China are felt more acutely by consumers.
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