- The Fed probably won’t cut interest rates this month but it likely will in September, according to a reading of the tea leaves by Goldman Sachs and movements in the Fed funds futures market. Although President Trump thinks chair Jerome Powell is “the Worst Federal Reserve Chairman in History” and Republicans are trying to prosecute him criminally, Powell and his colleagues probably are listening to Trump’s arguments in favor of a lower rate.
The next rate-setting meeting of the U.S. Federal Reserve is on July 30 and judging by recent public statements made by Chair Jerome Powell and other members of the Fed they are not going to deliver the rate cut that President Trump has been loudly demanding all year.
