Posted 1/9/2024, 11:00:00 AM
Fed Chair Powell Navigates Tricky Terrain as 2024 Election Looms, With Pressure From Both Sides On Interest Rates
- Jerome Powell faces political obstacles as Fed attempts soft landing of US economy
- 2024 election puts Powell in middle of partisan battle over economy under Biden
- Trump unlikely to tolerate Fed rate cuts that stimulate economy as he runs again
- Progressives blame Powell if he holds off on cuts, claim that could lead to Trump win
- Fed independence crucial for US; rate cuts too soon could echo 1970s Burns era