Federal Reserve cut interest rates today for the third time in a row but left big questions

about any additional rate cuts in the future.

The Open Market Committee voted to cut its benchmark rate by a quarter percentage point

to between 3.5 and 3.75 percent.

But Fed Chairman Jerome Powell signaled a reluctance to lower rates more amid mixed economic signals.

In the near term, risks to inflation are tilted to the upside and risks to

employment to the downside, a challenging situation. There is no risk-free path for policy

as we navigate this tension between our employment and inflation goals.

President Trump responded by calling Powell a stiff and making it clear he wanted a bigger cut.

He did a rather, I would say a rather small number that could have been doubled, at least doubled.

And that's the other thing. I think the rates for the United States are always the lowest in the world, because without us, there is no world.

Without this economy, there's no world. With me now is Krishna Gouha. He's vice chairman of Evercore

ISI. It's an investment banking firm. He's former executive vice president at the New York Fed.

Krishna, welcome to the NewsHour. Thanks for joining us.

Thank you.

Let's just start with your reaction to the Fed's decision to deliver its third straight interest

rate cut. Is that what you expected?

So it is what I expected. But of course, as you noted, there was a compromise here between the Fed

doves who want to cut rates and the Fed hawks who are skeptical about cutting rates. And the compromise

was this. They cut rates, but they signaled that they're minded to take a pause here and see

how the economy evolves. They're certainly not ruling

out cutting rates further, and most of them expect that will ultimately be the right thing to do.

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