, Columnist
Jerome Powell Is Playing ‘Survivor’ at the Fed
He held off on an actual cut, disappointing those expecting immediate action. But a late-July rate cut is almost a done deal.
Embattled Fed Chairman Jerome Powell.
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Sometimes temper tantrums pay off.
The Fed today came much closer to giving markets and President Donald Trump what they’ve long been holding their breath and stamping their feet for: an interest-rate cut. It held off on an actual cut, disappointing those betting on immediate action; but a late-July rate cut is almost a done deal. That’s what markets expect, after all, and Fed Chairman Jerome Powell has all but surrendered to markets (if not Trump), writes Brian Chappatta.