THE FED HEADS RATES DOWN, FOR NOW, WITH A U-TURN POSSIBLE

If it were done when ‘tis done, ‘twere well it were done slowly, announced Federal Reserve Board chairman Jerome Powell last week. The Fed plans to cut its benchmark interest rate by 0.25 per cent in November and again in December, rather than repeat its September larger redcution of 0.50 per cent. Faster please, sir, respond those who foresee a recessi…