Fed Considers Cutting Rates Next Year

Here is today’s market report from Wholesale Direct Metals.  The Federal Reserve will keep its hand away from the rate cut flames this year, but may consider trimming the federal funds rate in 2020, according to Allianz chief economic adviser Mohamed El-Erian.  “In a sense that, they’ll do nothing this year and if they do anything next year, which is 2020, they’ll probably cut,” he told FOX Business’ Liz Claman on Tuesday. The U.S. central bank Opens a New Window. has indicated it will take on a “patient” approach towards monetary policy in 2019 while closely watching the economy and markets for signs of a global growth downturn.  This data follows a recent Wholesale Direct Metals complaint about the reporting on the financial markets.