Two Federal Reserve policymakers on Friday said they were increasingly worried a...
STOCKHOLM/STANFORD, Calif. - Two Federal Reserve policymakers on Friday said they were increasingly worried about weak inflation, an indication that some U.S. central bankers see a growing case for a future interest rate cut even as others push for continued patience.
“If we go through the summer here and inflation expectations are still too low and actual inflation doesn’t seem to be picking up then I think the level of my concern would get more intense,” Bullard told Reuters in an interview. Powell repeatedly answered questions about the prospect of a rate cut by saying there was no strong case for moving rates in either direction.He said the U.S. economy was in a “very good place,” with inflation expectations seemingly “stable,” and that the central bank had time to look at incoming data before deciding on any further interest rate changes.
The Fed is increasingly under pressure from U.S. President Donald Trump to ease monetary policy, a situation that has raised concerns about the central bank’s ability to maintain its independence.Trump, who has said recent rate hikes have undercut his efforts to boost economic growth, called on Tuesday for rates to be cut by a full percentage point. The top White House economic adviser on Friday said the central bank would likely move in that direction.
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