- Trump failed to oust Fed Governor Lisa Cook and is unlikely to secure the steep rate cut he’s demanded, with markets expecting only a 25bp move today. While White House advisor Stephen Miran’s temporary seat raises fresh concerns about Fed independence, most analysts—including Wharton’s Jeremy Siegel—see gradual easing as the more credible path.
Trump has lost a couple of battles recently in his war on the Fed: He hasn’t succeeded in ousting Federal Governor Lisa Cook, and his calls for a significant cut are likely to go unanswered.
