Fed on track to defy Trump, keep rates steady despite criminal probe

[240B]

Fed on track to defy Trump, keep rates steady despite criminal probe

The Hill
by Sylvan Lane
01/28/26

The Federal Reserve is on track to keep interest rates steady Wednesday and defy the Trump administration’s controversial efforts to reshape the independent central bank.

The Federal Open Market Committee (FOMC) is widely expected to leave its baseline borrowing rate unchanged, a move likely to infuriate President Trump as he faces increasing backlash from the American public.

Trump’s anger with the Fed and its chair, Jerome Powell, has grown as the president faces dismal approval ratings on the economy and historically bad consumer confidence.

With less than a year until the midterm elections, Trump is scrambling to pull any lever he can to ease financial pressure on American households. But the Fed is unlikely to follow his lead Wednesday, as bank officials grow concerned with the stubbornness of inflation, which has changed little since Trump took office.

“After cutting interest rates at each of the last three meetings, we expect the [FOMC] to take an extended pause,” Michael Pearce, chief U.S. economist at Oxford Economics, wrote in a Thursday analysis.

“While the near-term policy outlook is benign, events outside the committee have the potential to shake up the path of monetary policy.”

(more)
https://thehill.com/business/5708978-fed-interest-rates-trump-powell/

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Powell is a committed TDS Nevertrumper. All he cares about is to sabotage the Trump administration.
The very last thing on Powell's agenda, is to do what is best for America and for the world as long as Trump is President.

[Fishrrman]

My last three 4 week t-bill renewal rates:
  1/13 - 3.60
  1/20 - 3.66
  1/27 - 3.69

Let's hope the rates keep ticking upwards, even if it's only a little at a time.

[Weird Tolkienish Figure]

Trump doesn't realize that triggering more inflation would piss people off? Especially in light of tariffs?