And if the Fed keeps cutting rates while other central banks don’t? Rogoff said investment will flow to the highest bidder. “Capital markets are global. So, the money’s going to move to where the rate of return looks good,” he said. The European Central Bank is likely to hold rates steady going forward.

The Federal Reserve made no changes to its median interest-rate projections, with a quarter-point reduction still penciled in for next year, according to the Summary of Economic Projections published on Wednesday.

The Federal Reserve maintained its benchmark interest rate on Wednesday, keeping borrowing costs at their highest level in more than two decades despite a prolonged cooldown of inflation. An interest rate cut is widely expected in the coming months.

Fed Chair Jerome Powell, speaking at a press conference after the December FOMC meeting, said the central bank is holding interest rates steady until it gets more clarity on the economy.

President Donald Trump said Friday that he thinks interest rates should be much lower than they are now and that the next Federal Reserve chair should take input from him on monetary policy. Trump also revealed that he is considering either former Fed governor Kevin Warsh or National Economic Council Director Kevin Hassett for the

The Federal Reserve cut interest rates a quarter point this week, but mortgage rates often move on their own. Here’s how they’ve reacted in the early aftermath.

Since this rate cut was no surprise, the markets have taken it in stride,” 43-year mortgage industry veteran Melissa Cohn told Fortune.