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One must understand the duplicity of the Federal Reserve over the decades, as well as in recent years, to put today's announcement by Jerome Powell into the appropriate context.
In a speech delivered before business journalists in Arlington, Va., Powell said the Fed faces a “highly uncertain outlook” because of the new reciprocal levies the president announced Wednesday, reported CNBC.
Though he said the economy currently looks strong, he stressed the threat that tariffs pose and indicated that the Fed will be focused on keeping inflation in check.
“Our obligation is to keep longer-term inflation expectations well anchored and to make certain that a one-time increase in the price level does not become an ongoing inflation problem,” Powell said in prepared remarks. “We are well positioned to wait for greater clarity before considering any adjustments to our policy stance. It is too soon to say what will be the appropriate path for monetary policy.”
The remarks came shortly after Trump called on Powell to “stop playing politics” and cut interest rates because inflation is down.
The Federal Reserve has been enabling globalism for decades, and kept rates at essentially zero for years, in order to allow the U.S. government to run up trillions in debt at zero rates - free money.
Now Trump is faced with rolling over $7T in debt and the task of restructuring our economy from a focus on financial engineering to manufacturing...from Wall Street to main street.
It's in this vein that Trump wants the Fed to lower. Powell won't, as it hurts America and hurts Trump.
Powell didn't stop inflation under the Biden years, and he won't help Trump now save our financial system.
He'll wait and see...
