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Policymakers at the Federal Reserve voted on Wednesday to hold interest rates steady for now, while they wait to see how President Trump's trade war plays out in the U.S. economy.
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President Trump has flirted with firing Federal Reserve Chair Jerome Powell since returning to office, but can he legally do that? Not without good cause. Today on the show, the danger of Trump's amped up attacks on Powell and the Fed's independence.
Follow Chris Hughes on Substack.
Related listening:
A primer on the Federal Reserve's Independence (Apple / Spotify)
Arthur Burns: shorthand for Fed failure?
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Trump: US leader teases trade deal with 'highly respected country' BBCTrump is set to announce his first trade deal since his tariffs sent markets reeling NPRTrump to Announce Trade Agreement With Britain WSJAsian Stocks Start Cautiously After Fed Holds Rate: Markets Wrap Bloomberg.comTrump wants everyone to stop askin
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The Federal Reserve on Wednesday remained in a holding pattern on interest rates, while warning about more uncertainty in the economic outlook and higher risks of unemployment and inflation in the new high-tariff U.S. economy.
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Trump is set to announce his first trade deal since his tariffs sent markets reeling NPRTrump to Announce Trade Agreement With Britain WSJNew US-UK trade deal expected to be announced by Donald Trump The IndependentUS and UK expected to announce deal to reduce tariffs today BBCAsian Stocks Start Cautiously After Fed Holds Rate: Markets Wrap Bloomberg
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The central bank stuck to a wait-and-see approach as officials brace for President Trump's tariffs to stoke higher inflation and slower growth.
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Fed chairman warns of rising inflation and mentions a possible recession as well.
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The Federal Reserve held its key interest rate unchanged as it waits for Trump's trade policy to take shape and sees its impact on a sputtering economy.
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The Federal Reserve will likely hold interest rates steady Wednesday as President Trump's tariffs threaten to raise prices and drag down economic growth.
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