WASHINGTON (AP) — With the nation’s unemployment rate at its lowest point since human beings first walked on the moon, you might expect the Federal Reserve to be raising interest rates to keep the economy from overheating and igniting inflation. Yet the Fed is moving in precisely the opposite direction:

It is widely expected late this month to cut rates for the third time this year. Welcome to the strange world that Jerome Powell inhabits as chairman of the world’s most influential central bank.