, Columnist
The Fed Can’t Ignore All of Trump’s Intentions
Next week, Chair Jerome Powell might have to walk back his assertion that “we don’t assume.”
Actually, assume.
Photographer: Yuki Iwamura/BloombergThis article is for subscribers only.
When US Federal Reserve Chair Jerome Powell faces the media after the central bank’s policy-making meeting next week, he’ll probably get a politically fraught question: How will the Fed incorporate president-elect Donald Trump’s stated plans — including tax cuts, tariffs and deportations — into its economic outlook and monetary policy?
In November, Powell’s response was categorical: “We don’t guess, we don’t speculate, and we don’t assume.” This time around, he’ll have to be more nuanced.