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The Federal Reserve is really in a mess right now! Trump said this week that after the Federal Reserve chair changes in May next year, interest rates will definitely drop significantly, but the reality is that there is a strong opposition within the Federal Reserve against lowering interest rates in December; I don't know if his wish can be realized.
Powell, regardless of whether interest rates are lowered in December or not, has to face the fiercest internal resistance during his term, and this division is likely to continue next year. Even if there is a new chair, it may not lead to much of a rate cut. More importantly, the Federal Reserve has emphasized broad consensus in interest rate decisions for over 30 years and has never relied on a slim majority to make changes, but the December meeting is likely to see more than three votes against.
Some economists bluntly stated that this decision-making process is about to break down, and December is a rehearsal for the serious division of next year's committee; in the future, monetary policy may have to rely on a minority vote, and the new chair may not be able to take control of the overall situation. If Trump does not get his way, he may resort to more radical means to undermine the independence of the central bank in exchange for rate cuts. What do you brothers think?
Powell, regardless of whether interest rates are lowered in December or not, has to face the fiercest internal resistance during his term, and this division is likely to continue next year. Even if there is a new chair, it may not lead to much of a rate cut. More importantly, the Federal Reserve has emphasized broad consensus in interest rate decisions for over 30 years and has never relied on a slim majority to make changes, but the December meeting is likely to see more than three votes against.
Some economists bluntly stated that this decision-making process is about to break down, and December is a rehearsal for the serious division of next year's committee; in the future, monetary policy may have to rely on a minority vote, and the new chair may not be able to take control of the overall situation. If Trump does not get his way, he may resort to more radical means to undermine the independence of the central bank in exchange for rate cuts. What do you brothers think?
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