"In the mid-1990s, you did see a small number of steps one way and then a step back," says Gary Richardson, a professor of economics at the University of California at Irvine. But since about 1994, "usually you'll see a series of changes in the same direction. … "There's a lot of speculation that the Fed's resolve to not worry about equity markets or what the executive branch has said has weakened," Prof. Richardson says. "I would guess that in ten years when we know the full story, it's likely to be untrue."

For the full story, please visit https://fortune.com/2019/10/29/fed-rates-cut-markets/.

 

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