"It was the most politically charged meeting in recent memory. The Federal Reserve followed the expected script and approved a 0.25-point rate cut the first since December and the first since Donald Trump took office. Trump, a president who has repeatedly flouted norms of decorum with his pressure on Fed Chairman Jerome Powell including insults and threats of dismissal has pushed for lower rates to soften the impact of Washington's aggressive trade policies."
"The new target range for interest rates is now 4%4.25%. For this reason, the focus of the news more intense than at any other time in the Fed's history was not on whether the cut would happen, but on the projections for what comes next (the central bank expects to continue lowering the cost of money) and on Powell's remarks in his subsequent press conference, where he is almost certainly bound to be questioned about the Fed's independence, which Trump has repeatedly called into question."
The Federal Reserve approved a 0.25-point rate cut, the first since December and the first since Donald Trump took office. The new target range for interest rates is 4%4.25%. President Trump has applied public pressure on Fed Chairman Jerome Powell, including insults and threats of dismissal, and has pushed for lower rates to soften the impact of Washington's aggressive trade policies. The Fed signaled expectations for continued lowering of the cost of money and emphasized projections for future policy. Powell faced questions about the Fed's independence. Attention focused on four governors: Stephen Miran, Lisa Cook, Michelle Bowman and Chris Waller.
Read at english.elpais.com
Unable to calculate read time
Collection
[
|
...
]