Business Rundown: The Fed's 'Hocus Pocus'

For the first time this year, the Federal Reserve announced a quarter percentage point cut to its benchmark interest rate this Wednesday. This decision followed months of public pressure from President Trump and his administration, who criticized Fed Chairman Jerome Powell as "too late" and "too slow." The cut was made despite inflation being above the Fed's two-percent target and is expected to be the first of several reductions anticipated this year. Powell described the move as a "risk-management cut," citing concerns about employment. Nancy Tengler, the CEO of Laffer Tengler Investments, joins FOX Business’ Gerri Willis to give her reaction to the Fed’s decision, how it will impact borrowers and the economy, and why she thinks Fed Chairman Jerome Powell continues to show he is consistently ‘wrong’. Photo Credit: AP News Learn more about your ad choices. Visit podcastchoices.com/adchoices