Federal Reserve System, Presidency of Donald Trump
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Jerome Powell, Trump and lower rates
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The central bank remains cautious, even as calls for rate cuts grow louder from the White House and other policymakers.
Federal Reserve Chair Jay Powell has reiterated that rate decisions will be data-driven — by inflation, and employment.
Fed Chair Jerome Powell has sketched out new conditions that could trigger rate cuts by summer’s end, but inflation remains a big question.
Trump hopes to get lower rates by replacing Fed Chair Jerome Powell with someone who would do what the president wants. But Powell’s term as chair does not end until May 2026. He’s insisted he won’t resign early.
The U.S. economy added 147,000 jobs in June, beating analyst expectations, the Bureau of Labor Statistics reported.
JPMorgan Chase CEO Jamie Dimon said on Thursday he thought the financial market was underestimating the possibility of U.S. interest rates climbing higher, a prospect he described as a "cause for concern".
Federal Reserve Chief Jerome Powell said it is premature to lower interest rates, citing the potential impact of tariffs.
Mr. Pollock is a Senior Fellow at the Mises Institute, the author of 'Finance and Philosophy--Why We’re Always Surprised' and co-author of 'Surprised Again! The Covid Crisis and the New Market Bubble.'
The Federal Reserve cut interest rates in 2024 after having raised them 11 times throughout 2022 and 2023 to combat inflation, but savings rates still haven't substantially declined.
Federal Reserve Chair Jerome Powell said the central bank would have likely already moved to lower borrowing costs if it weren't for worries that tariffs would drive up inflation.
Policy is rightly locked on hold over the near-term in part because the uncertainty surrounding the Trump administration’s tariff regime remains unusually high.