Federal Reserve Officers Meet with President Trump
Some of the Federal Reserve officers met with President Donald Trump in July to demand lower interest rates.
Effects of Trump’s Tariffs on Prices
The deputy chairman of the supervision, Michelle Bowman, played down the potential effects of Trump’s tariffs on prices on Monday and said the US Central Bank should quickly lower interest rates to maintain the health of the labor market.
Call for Lower Interest Rates
"It is time to adapt the political interest rate," said Bowman. "If inflation pressure remains, I would support reducing the political rate as soon as our next meeting to bring it closer to its neutral environment and maintain a healthy labor market."
Support from Fed Officials
Bowman is the second Fed official to stand for lower credit costs with Trump. On Friday, Fed Governor Christopher Waller said that the tariffs will probably only lead to a "unique" increase in inflation. Bowman and Waller are Trump officers.
Fed’s Stance on Interest Rates
Fed officials have been announcing for months to see how Trump’s main shifts affect the US economy before considering further interest cuts. At its gathering of politics at the beginning of this month, the Fed kept its benchmark credit rate unchanged for the fourth time in a row.
Update
This is a developing story and is being updated.
