Trump Crashes the Fed’s Consensus

“President Donald Trump’s onslaught against the Federal Reserve, and his installation of a top lieutenant on the central bank’s board, have made the Fed’s interest rate decision Wednesday one of the most politically charged ever,” Politico reports.

“On the one hand, the outcome — a small rate cut — is unlikely to be affected by either the addition of White House chief economist Stephen Miran or the continued presence of Lisa Cook, whom Trump is trying to oust from the board. But the vote could be a lot messier than usual at the consensus-driven central bank as Fed officials grapple with two problems they can’t fight simultaneously — a weakening job market and rising prices.”