Interest rates have been a big talking point in the news as of late. However, Charles Schwab has decided to lay off 600 workers as a result of a slowing economy and "pressure from slumping interest rates". These rates have been falling because of these worries of a slowing economy and they believe these cuts were nessessary because of the income pressure from these declining rates. I was just wondering if maybe Schwab might have jumped the gun on laying off these workers. It seems the United States economy is still thriving and most of the worries come off worries of a possible slowing economy. So do you believe that laying off workers before any recession actually hits is the right move and do you believe more companies and banks will follow their lead?
Link: https://www.cnbc.com/2019/09/11/schwab-is-laying-off-600-employees-amid-hit-from-the-feds-interest-rate-cuts.html
Obviously time will tell, but I believe it is a combination of very low interest rates along with president Trump urging the Federal Reserve to cut interest rates even lower.
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