“Mike Swanson discusses the recent announcement that the Federal Reserve will begin cutting interest rates again. Fed Chairman Jerome Powell has said this is a precautionary measure against a possible recession, of which there have been early signs over the last few months. The dangerous thing, says Swanson, is what happens if there is a recession even after this move—with rates already so close to zero percent, what more can the Fed do? Unfortunately it would probably mean huge inflationary measures that could wipe out the savings of average Americans,” writes Scott Horton of The Scott Horton Show.
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