The Big Take
Jerome Powell Is Back in Trump’s World and About to Feel the Heat
After announcing what’s widely expected to be a quarter-point cut in interest rates, the Fed will have to reassure markets it can manage the impact of a president-elect who's vowed a raft of new tariffs and tax cuts.
Donald Trump and Jerome Powell.
Photography: Chip Somodevilla/Getty Images, Tierney L. Cross/Bloomberg
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The first half of Jerome Powell’s Thursday looks straightforward. The second half, not so much.
After the Federal Reserve announces what’s widely expected to be a quarter-point cut in interest rates, Chair Powell will have to field a barrage of questions about what Donald Trump’s return to the White House will mean for growth, inflation and borrowing costs.