July 22, 2019 / 4:52 PM / 2 months ago

Trump pick for Fed calls for sharp interest rate cut-report

WASHINGTON, July 22 (Reuters) - An economist tapped by U.S. President Donald Trump for a governorship at the Federal Reserve called for a sharp interest rate cut at the central bank’s policy meeting next week, the Washington Post reported on Monday.

Asked if she supported a 50-basis point cut in the Fed’s target range for its benchmark interest rate, Judy Shelton said: “Yes. I would have voted for a 50-basis point cut at the June meeting,” the Washington Post reported, citing an e-mail from Shelton. (Reporting by Makini Brice and Jason Lange Editing by Chizu Nomiyama)

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