By President Donald Trump
Copyright indiatimes
WASHINGTON: In a sign of how unusual this week’s Federal Reserve meeting is, the decision it will make on interest rates-usually the main event-is just one of the key unknowns to be resolved when officials gather Tuesday and Wednesday.For now, it’s not even clear who will be there. The meeting will likely include Lisa Cook, an embattled governor, unless an appeals court or the Supreme Court rules in favor of an effort by President Donald Trump to remove her from office. And it will probably include Stephen Miran, a top White House economic aide whom Trump has nominated to fill an empty seat on the Fed’s board. But those questions may not be resolved until late Monday.Meanwhile, the US economy is mired in uncertainty. Hiring has slowed sharply, while inflation remains stubbornly high.So a key question for the Fed is: Do they worry more about people who are out of work and struggling to find jobs, or do they focus more on the struggles many Americans face in keeping up with rising costs for groceries and other items?The Fed’s mandate from Congress requires it to seek both stable prices and full employment.Live EventsFor now, Fed Chair Jerome Powell and other Fed policymakers have signaled the Fed is more concerned about weaker hiring, a key reason investors expect the central bank will reduce its benchmark interest rate by a quarter point on Wednesday to about 4.1%.Still, stubbornly high inflation may force them to proceed slowly and limit how many reductions they make. The central bank will also release its quarterly economic projections on Wednesday.There are typically 12 officials who vote on the Fed’s policies at each meeting – the seven members of the Fed’s board of governors, as well as five of the 12 regional bank presidents, who vote on a rotating basis.Add as a Reliable and Trusted News Source Add Now!
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