President Trump may get his wish for a rate cut. But if the Federal Reserve slashes its funds rate later this year, it won't necessarily be the political gift he wants
Trump has repeatedly bashed chairman Jerome Powell — his pick to lead the US central bank — accusing the world's most powerful central banker of damage because the Fed raised interest rates last year just as Republicans were goosing the economy with tax cuts. And on Tuesday, Trump even declined to rule out demoting Powell, instead saying that he would watch the chairman closely. "I want to be given a level playing field.
"The goalposts have certainly shifted from the start of 2019, when there were two forecasted rate hikes," said Steve Rick, chief economist at CUNA Mutual Group."Then, in March, we hit pause, and now we're talking about a potential cut."Most economists don't think the Fed will change rates at all at this week's meeting, leaving the benchmark rate hovering between 2.25% and 2.5%.
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