Reported 7 months ago
Political pressure on Federal Reserve Chair Jerome Powell is increasing from both the right and left, with GOP presidential candidate Donald Trump hinting at firing Powell and liberal lawmakers urging for immediate interest rate cuts. However, Powell remains data-driven and focused on strong job reports and inflation prints, setting a high bar for rate cuts. Despite pressure, Powell is committed to waiting for a consensus based on data, with Trump's attacks unlikely to change his behavior. Democrats are also urging for rate cuts to address the housing supply crisis, but Powell's approach remains steady amidst growing scrutiny.
Source: YAHOO