Fed Political Resistance Rate Cuts
Fed board members are politically motivated and resistant to rate cuts despite the president's preference for lower rates.
Too little corroboration in the last 3 days to call a trend (6 articles). Watching for it to gain traction.
Mainstream financial press is carrying this — attention has broadened beyond specialist outlets.
""At the Fed's meeting last week, Cook was among the nine officials who voted to hold interest rates in the key 3.5% to 3.75% range – though three officials preferred to hike rates, a sign of deepening dissent within the board.""
""Kevin's got a board, and the board members are very political, I would say," Trump said. "He's got a board, and he wants to do the right thing. I know what he wants to do, but you need the consent of some people that have perhaps bad intentions.""
"As three of Warsh's colleagues dissented, favoring rate hikes, market predictions now foresee a potential rate increase in September, reflecting a significant shift in expectations."
""Kevin's fantastic, but he's got a board, and the board members are very political, I would say" and "You need the consent of some people that have perhaps bad intentions.""
""Kevin is fantastic, but he's got a board, and the board members are very political," Trump said. "He wants to do the right thing. I know what he wants to do.""
"However, the prospect of raising rates would also put him at odds with President Donald Trump, who repeatedly attacked Mr Warsh's predecessor, Jerome Powell, for not delivering aggressive rate cuts."