Opening Statement from the November 2019 Intelligent Investor (part 1) 

Opening Statement from the November 2019 Intelligent Investor (part 1) 

Originally published on November 7, 2019

Largely as expected, on October 30 the Federal Reserve cut short term interest rates by 25 basis points for the third consecutive time this year. During the Fed meeting Powell signaled that no further rate cuts would come in 2019 unless economic data deteriorates. But we must question his claim given that there was no justification based on the economic data for any of the rate cuts made in 2019. 

We have previously pointed out that additional rate cuts would accelerate the pace of rate cuts from central banks throughout the world, which will add even more risk to asset bubbles that