The Fed Is Ignoring Key Data
Shortly after yesterday’s FOMC announcement, Peter went live to unpack its aftermath. He criticizes the Federal Reserve’s decision to hold rates steady, offers insight into Jerome Powell’s press conference remarks, and skewers the notion that the Fed remains “apolitical.” Peter also addresses President Trump’s evolving commentary on oil prices and interest rate cuts as 2025’s economic challenges continue to mount.
Starting with rumors surrounding a potential Trump-driven interest rate cut, Peter clarifies what the president actually said regarding oil prices:
Because to be honest, what Trump said was that he expects the price of oil to drop sharply. And as a result of that big drop in oil prices, he would demand that the Fed cut rates immediately. So, that hasn’t happened yet. I mean, oil prices have come down from the high they hit a week or two ago. But they’re still what, $72, $73 a barrel? That’s not the type of price drop that Trump spoke about, which would result in demanding that Powell cut interest rates.
In the Fed press conference, when pressed on policy stances and tariffs, Jerome Powell claimed the Fed wanted to stay neutral. Peter, however, challenges that logic:
Another question he was asked was to comment on the tariffs and the policy that is being considered and what impact that might have on their mandate on inflation. And he says, well, we’re not going to talk about it. We’re not going to comment on that. … That’s not any of our business, which of course is nonsense
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