Fed To Hold Steady As We Await The President's Decision
2026-01-23 13:21:00 ET
President’s pick overshadows Chair Powell
Wednesday’s FOMC meeting is very likely to see monetary policy left unchanged after 75bp of interest rate cuts spread over the previous three meetings. The fact that growth is strong, unemployment is low, equity markets are close to all-time highs and inflation is above target all argue for a pause. Fed Chair Jerome Powell’s robust defence of the central bank’s independence on 11 January, in response to ongoing pressure from the President to lower rates, confirms it. There will be dissent, but it will likely be restricted to arch-dove Stephen Miran and Chris Waller, who remains in the mix as the prospective next Fed Chair....
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Fed To Hold Steady As We Await The President's Decision
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