Thu Sep 19, 2024 – 6:00 pm EDTThu Sep 19, 2024 – 4:03 pm EDT
(LifeSiteNews) — On this episode of The John Henry Westen Show, Drew Mason, managing partner of St. Joseph Partners, returns to discuss the Federal Reserve’s decision to cut interest rates, what that means for the economy, the benefits of gold and silver, and more.
I began the episode by asking Mason to explain the significance of the federal interest rate cut that was announced on Wednesday. He said this cut is the beginning of what’s called a “rate cycle,” which is typically not a “one and done” cut, but is either a raising or lowering of rates over several months or even years.
“So yesterday, they cut the interest rate that’s used with the banks by 50 basis points, or half of a percent, which is larger than their norm of 25 basis points. And [it] suggests they’re seeing enough data in the economy that they are concerned about the economy and where we’re heading,” he said.
Mason noted that this move will likely weaken the dollar on the global stage because foreigners won’t be paid as much in interest, which also
The remainder of this article is available in its entirety at LifeSite News
The views expressed in this news alert by the author do not directly represent that of The Christian Journal or its editors