The countdown to the Federal Reserve’s interest rate decision of July 31 is underway with investors debating whether policy makers will cut interest rates by 25 basis points or 50 basis points. Chairman Jerome Powell studiously avoided committing himself and colleagues in either direction in congressional testimony last week. In debate is whether officials believe the economy needs an “insurance cut” against the possibility of a slowdown, or a more aggressive move to counteract a serious deterioration that may already be underway. “As Jay Powell made clear in his testimony and the minutes of the June meeting further ... (full story)