Reported 12 months ago
Former President Donald Trump criticizes Federal Reserve for considering interest rate cuts prior to the November election, expressing they should not act in such a way. Despite political pressure, Fed officials like Chris Waller are leaning towards implementing rate cuts soon due to reassuring inflation data. Market expectations foresee a possible rate cut in September, triggering potential backlash from politicians. Fed Chair Jerome Powell maintains an independent stance, emphasizing data-driven decisions. Waller indicates the possibility of a rate cut in the near future based on inflation reports, aiming for sustained progress towards the 2% inflation goal.
Source: YAHOO