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Fed should follow markets, cut rates

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Federal Reserve Chairman Jerome Powell and his central bank colleagues should take their cues from falling bond yields and lower short-term interest rates, economist Art Laffer told CNBC on Tuesday.

“I do think it’s in the cards,” said Laffer, formerly an economic advisor to presidents Donald Trump and Ronald Reagan and known for the Laffer Curve, a theory that argues that increasing tax rates beyond a certain point becomes counterproductive for raising tax…



Source cnbc.com

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