No Recession, FED cuts rates
The GDP was reported to have grown 0.6% in the first quarter of the year. This means that the economy has not been in a recession, by definition.
In response to the news, the FED cut the interest rate a quarter-point to 2%. The FED should have stayed put instead of cutting. A cut will further fuel the inflation we already have and potentially create yet another FED-induced bubble.
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