News analysis

Fed's interest-rate cut helps Trump wage his trade war

Federal Reserve chairman Jerome Powell may not have wanted to cut interest rates. But in the end, President Donald Trump appears to have given him no choice.

Amid increasing signs that the global economy is slowing, Mr Powell on Wednesday announced a quarter-percentage-point reduction in the cost of money.

Please or to continue reading the full article. Learn more about ST PREMIUM.

Enjoy unlimited access to ST's best work

  • Exclusive stories and features on multiple devices
  • In-depth analyses and opinion pieces
  • ePaper and award-winning multimedia content
A version of this article appeared in the print edition of The Straits Times on August 02, 2019, with the headline 'Fed's interest-rate cut helps Trump wage his trade war'. Print Edition | Subscribe