Fed to hold rates steady as it awaits more data, clarity on Trump's move

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Fed to hold rates steady as it awaits more data, clarity on Trump's move - Business Standard

Quick Summary:

Since taking office last week, Trump has said he would "demand" lower rates and repeated previous assertions that he believes the Fed should take his views into account.

Data due to be released on Friday is expected to show the Personal Consumption Expenditures Price Index, the Fed's preferred gauge of price pressures, rose in December at a rate close to 2 per cent over three- and six-month intervals.

Growth when the new Trump administration took over was running at a roughly 3 per cent annual rate for the fourth quarter of 2024, above most estimates of the economy's underlying potential, according to a gross domestic product tracker maintained by the Atlanta Fed.