Charisma Caucus

Is a Recession on the Horizon for America?

Many investors have blamed the Fed for the sharp drop in stocks in the last three months. (Pixabay)

Investors hope Friday's rally on Wall Street will keep going in the weeks ahead.

Stocks took off Friday after Federal Reserve Chairman Jerome Powell said the central bank would be patient with future hikes in interest rates.

Many investors have blamed the Fed for the sharp drop in stocks in the last three months because of its plans to keep raising rates.

"If we were to go into a recession in 2019, the villain would be the Fed," Stephen Moore, former economic adviser to President Donald Trump, told CBN News.

Moore says that in order to become the hero, the Federal Reserve should be lowering—not raising—interest rates.

"The Fed should absolutely stop raising rates. In fact, they should start cutting rates, reverse the mistakes they made the week before Christmas," he said.

That mistake, as Moore puts it, is when the Fed raised interest rates for the fourth time in 2018. Job growth and what had been strong economy last year encouraged the Federal Reserve Board to go for the quarter percent increase.

But Moore says investors clearly saw it as the wrong move because of growing concerns of an economic slowdown and weaker profits for businesses. And they thought higher rates could hurt the economy at a time when it could be getting weaker.

Click here to read the rest of the story from our content partners at CBN News.


To contact us or to submit an article, click here.


Get Charisma's best content delivered right to your inbox! Never miss a big news story again. Click here to subscribe to the Charisma News newsletter.

Five ways to deepen your relationship with God, increase your faith and save money!

  • Deepen Your Relationship with God with a FREE eCourse: Click Here to view all of our free e-Courses. Favorite topics include Fear, Forgiveness, Holy Spirit, Supernatural, and How to Hear God.
  • Super Discounts and Close-Out Specials: Click Here to view all our bundles and close-out specials and save up to 86%! Prayer, Holy Spirit, Anointing, the Supernatural and more.
  • God Wants to Anoint Women Now: Rise up and enter the anointing of Deborah, Anna, Esther, Ruth and Hannah. You were called to go higher. Click Here to learn more.
  • Change Your Atmosphere and Circumstances Through Prayer! John Eckhardt's prayer bundle gives you six powerful books to help you pray and change any situation. Click Here.
  • HUGE Bible Sale!: Click Here to save up to 50% off a great selection of Bibles. Plus, get a free gift with each order!

Subscription Special: Subscribe to Charisma for Only $24.97 and get a free gift. With your subscription, you'll receive Born For Significance by best-selling author Bill Johnson. View Offer

Attention Pastors and Leaders: Leadership training and development are crucial for success. Enroll in a FREE 1-hour leadership mini-course by Dr. Mark Rutland. View Details

Charisma News - Informing believers with news from a Spirit-filled perspective