Dems want the Fed to cut interest rates.
They see lowering rates that they believe would do a Keynesian infusion into the economy as a key to their Fall electoral prospects .
Warren pushes Fed Chair Powell to cut rates, ease housing pressure (cnbc.com)
As predicted ;the pressure on Fed Chair Jerome Powell will be enormous .
He spoke the end of last year ;without being specific ,about the possibility of a number of rate cuts (without saying how many and when they would start )
The last meeting of the Fed was disappointing to those who want to see easy money return.
But the inflation rate has not come down to the Fed's target of 2% . So far he is resisting the political pressure.
A strong jobs report complicates Jerome Powell's political dilemma as 2024 election nears (yahoo.com)
Quote:
"We do not consider politics in our decisions, "We never do. And we never will. And I think the record — fortunately, the historical record really backs that up."
Jerome Powell: Full 2024 60 Minutes interview transcript - CBS News
I agree with Powell . It takes time to beat inflation. Lowering rates too soon and too deep can destroy all the progress made.
