New York: When New York Fed President John Williams talked about the need to "vaccinate the economy" on Thursday, markets listened. And when the New York Fed itself spoke up later to clarify his remarks, investors were again all ears. Markets have long been expecting the Fed to cut rates at its July 30-31 meeting. Not even St. Louis Fed President James Bullard, the lone Fed policymaker who voted at the Fed's June meeting for a rate cut, has gone that far. "I like New York Fed President John Williams first statement much better than his second," Trump tweeted Friday.

Source: Mint July 21, 2019 04:30 UTC