Why the Fed almost certainly isn’t going to do an emergency rate cut | CNN Business

New York CNN  — 

Stocks closed deep in the red for a second day in a row on Monday as questions swirl over whether the US economy is in a recession following Friday’s unexpectedly weak jobs report. Investors are increasingly hopeful that will push Federal Reserve officials to come to their rescue with an emergency rate cut.

That almost certainly won’t happen.

“There’s nothing in the Fed’s mandate that’s about making sure the stock market is comfortable,” Chicago Fed President Austan Goolsbee said in a New York Times interview on Monday.

In hindsight, there’s

→ Continue reading at CNN - Business News

More from author

Related posts

Advertisment

Latest posts

Japan stocks rebound sharply after worst rout in history | CNN Business

Hong Kong CNN  —  Japanese shares soared in early trading on Tuesday, clawing back some of their record losses...

What a huge drop for stocks may signal about U.S. economy | CNN Business

‘I’ve lost everything’: Woman speaks after losing son, grandchild in landslide 01:56 Now playing - Source: CNN ...

Join the #1 Senior Care Franchise in the Booming Home Care Industry

3 Benefits of owning a Home Helpers Home Care franchise:Access to a rapidly growing market with an aging population.Comprehensive training and ongoing support from...