Fed Is Set for Contentious Debate as Investors Eye Fall Rate Cut
Jerome Powell during a news conference following a Federal Open Market Committee (FOMC) meeting in Washington on June 18.
Photographer: Kent Nishimura/BloombergFederal Reserve officials are determined to hold interest rates steady a little while longer, though an increasingly contentious debate at this week’s policy meeting may bolster expectations for rate cuts in the fall.
Fed Chair Jerome Powell is under intense pressure from President Donald Trump and his allies to reduce borrowing costs, and may face multiple dissents this week from officials who want to provide support to a slowing labor market.