The Federal Reserve, widely expected to lower interest rates Wednesday for the third time this year, kicks off its two-day meeting today.
Gathering policymakers must simultaneously grapple with growing internal divisions over the best path forward; the Trump administration’s ongoing search for the next Fed chair; a looming Supreme Court ruling on the president’s ability to fire independent agency officials; and, of course, President Donald Trump’s continued campaign for dramatically lower interest rates as he seeks to make life more affordable for Americans.
That campaign is sure to feature prominently in Trump’s remarks on inflation today at Pennsylvania’s Mount Airy Resort, despite mounting evidence that it may not be so straightforward: Treasury yields hit multi-month highs Monday in a key sign that bond traders remain worried about rising prices.