Federal rate cut will do little for economy
Columbus, OH – The recent action by the Federal Reserve to cut benchmark rates by nearly a full percentage point left many to speculate that another cut could happen soon. But one Central Ohio economist wasn't all that impressed with the first one. Jim Newton owns the Delaware-based firm Economic Perspectives and serves as the chief economic advisor for Commerce National Bank. In a conversation with Mike Foley, Newton calls the recent action by the Federal Reserve a mistake.