MAXINE VS. THE FEDERAL REPUBLIC: Representative Maxine Waters (D-CA) and the House Financial Services Committee briskly prepare Federal Reserve Chairman Jerome Powell. Powell hinted that the Fed could cut interest rates this month, possibly in response to intimidation by President Trump, who threatened to fire him. The president of the Fed is supposed to act independently of political pressures. Interest rates have been almost zero for more than a decade. Low interest rates are good for stock market investors, but bad for families trying to put money aside for the future in a savings account.
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