Fed expected to hold rates steady even as Trump dials up pressure
- Investors are expecting the FED to hold rates steady
- Trump is making it clear he wants policy makers to cut rates further. He hinted last week at a coming clash with Powell on that subject, saying he wants rates to come down "a lot," and that he expects to talk directly with the Fed chair "at the right time."
- In recent weeks many Fed officials made clear they are increasingly concerned about signs of persistent inflation, citing that as a reason to move cautiously in 2025. In December they predicted just two rate cuts for all of 2025, down from a prior estimate of four.
- Consumer Price Index(CPI) dropped slightly in December
- Economists expect annual "core" PCE to have clocked in at 2.8% in December, unchanged from November. Over the prior month, economists project "core" PCE rose 0.2%, faster than the 0.1% seen in November.
Some watchers of the US economy are now raising the possibility that the Fed could even be forced to raise rates this year — a move that would surely invite Trump’s wrath.
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