Fed, Jerome Powell and Trump
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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.
The U.S. central bank’s decision to hold interest rates steady in June was unanimously supported, but officials were starting to splinter over the path forward.
The U.S. economy added 147,000 jobs in June, beating analyst expectations, the Bureau of Labor Statistics reported.
Trump administration official Bill Pulte released a statement suggesting that Fed Chair Jerome Powell is considering resigning amid mounting pressure on his leadership.
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.'
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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.