Trump Urges Federal Reserve To Cut Rates As Market Bets On Warsh Hike
Trump Urges Federal Reserve To Cut Rates As Market Bets On Warsh Hike
Source: Investor's Business Daily
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DW NOTE
Trump is demanding rate cuts the day before markets expect Kevin Warsh to hike into a supply shock. The Fed has held at 3.50%-3.75% all year while oil climbed 60% and PPI hit 5.51% — half a percentage point above where Volcker began tightening in 1979. The White House wants cheaper credit; the bond market is pricing a 60-90% probability of the opposite.