Trump is once again pushing for a rate cut. FOMC members are building a credibility barricade around Jerome Powell

Quick Summary:

Jerome Powell, Tom Barkin, Jeff Schmid and Lorie Logan have said they'll wait for data before axing the interest rate—not what President Trump wants.

For example, Trump claimed last year that Powell may lower the base rate in order to benefit the Biden administration and added he would fire Powell—which he is not legally allowed to do—if that happened.

Speaking to the Secured Finance Network’s independent finance roundtable in Kansas City, Missouri, Schmid added: "Now, with renewed price pressures likely, I am not willing to take any chances when it comes to maintaining the Fed’s credibility on inflation".

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Article Details

Author / Journalist: Eleanor Pringle

Category: EconomyBusiness

Markets: United States

Topics: Donald Trump Economy Fed interest rate Jerome powell Inflation

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-11 @ 11:10:04 (5 days ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 907 words

Reading Time: 6 minutes read

Sentences: 5 lines

Sentence Length: 182 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 27787340

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Official Website: fortune.com

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