Top White House Economist Points to 1.6% Inflation as Evidence the Fed Doesn't Need Higher Rates
Kevin Warsh argues the Fed can hold rates steady as 1.6% core CPI and stronger-than-expected jobs data shape the debate, officials said.
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Trump Threatens to Halt Some Trade Unless the Fed Cuts Rates
President Donald Trump threatened Friday to halt a broad swath of U.S. trade unless the Federal Reserve slashed interest rates, issuing a series of sweeping ultimatums that could prove costly to the economy if he were to carry it out.
Top White House Economist Points to 1.6% Inflation as Evidence the Fed Doesn't Need Higher Rates
Kevin Hassett says the economy is roaring without sparking inflation, but former Fed officials, record gas prices, and skeptical analysts are lining up to challenge that claim before the next rate decision.
With his demand for lower interest rates, Trump is also putting pressure on Powell's successors. No matter how the next decision comes out: Warsh has only bad options, says Astrid Dörner.
Trump, Aides Clamor To Sway Fed's Policy. Is Kevin Warsh In A Fix?
This is an unusual public clamor by the administration's top aides ahead of a Fed meet. Many of the Trump administration have also called for a rate cut instead. The idea seems to be to facilitate a narrative in which to pressurize the Fed under its new chair Kevin Warsh, a Trump appointee, to not hike rates, rather than forcing a cut.
The Fed is free to raise its rates at its next meeting on 16 September.
Top White House Economist Points to 1.6% Inflation as Evidence the Fed Doesn’t Need Higher Rates
The post Top White House Economist Points to 1.6% Inflation as Evidence the Fed Doesn’t Need Higher Rates appeared first on 24/7 Wall St.. In a September 4 Bloomberg interview, National Economic Council Director Kevin Hassett argued that the U.S. economy is expanding quickly without generating…
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