Powell Rallies Fed Colleagues as Economic, Political Risks Grow
Federal Reserve Chair Jerome Powell has rallied a deeply divided committee of policymakers behind an interest rate-cut, despite heavy political pressure. The decision comes amid growing economic and political risks. Powell appears to have tuned out the pressure, focusing instead on the needs of the faltering labor market and the concerns over lingering inflation. The article suggests that the Fed's policymakers are grappling with a complex set of economic and political challenges, and Powell's leadership was crucial in forging a consensus on the rate-cut decision. The summary highlights the key points of the article, including the division within the Fed, the political pressures, and Powell's role in navigating these challenges.
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