announces rate increases for the next year...likely 2 in 2025.
A giant rate cut this fall .5 pre-election (unprecedented), and then a rate cut today of .25....but a promise to begin rate increases in 2025 - at least two.
Then why cut them today by just a small amount, Mr. "The inflation is only transient"? The answer is so that Powell has cover to claim that the cut pre-election was not political (when it obviously was).
Remember that Trump said that taking the advice to name Powell the Fed chair was one of the biggest mistakes of his first term.
Trump promised last year to replace Powell as soon as possible, so Powell had a personal motive as well.
Despite his unnecessary and nonsensical manipulations, I don't think he will be able to slow the Trump Train.
Powell continues his incompetent market manipulation. After cuts to help Harris pre-election he
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