Top Federal Reserve officials have said they are open-minded about whether additional interest rate cuts will be necessary in 2019, but recent economic data are putting that equanimity to the test.
The central bank cut rates for the first time since the Great Recession in late July, then followed that up in mid-September, likening the moves to taking out insurance. They were meant to give the economy a little bit of extra padding in case risks on the horizon — from uncertainty created by President Trump's trade war to economic weakening in Asia and Europe that threatened to spill over — turned into realities. Read more. Subscription needed.