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What To Expect From The June FOMC Meeting
The Fed will keep rates on hold this week. And Donald Trump will be furious about it.
That's the sh
If anyone knows numbskulls, it’s Prince Don of the Very Tiny Hands and his merry band of thieves.
H-Man, agree with the short version. When does the Fed bring back the punch bowl? Maybe winter of 2026 after everything has flushed through the system.
If Powell’s not careful, Trump’s gonna get his Mean Girls together and steal all his Grateful Dead cassettes until he cuts rates. But given Trump’s mob associations and difficulty with semantics, Jay should be well aware that it wouldn’t take much to turn his Beige Book into a Burn Book. Capiche?
Anecdotal but . . .
“foreign counterparties [of importers] no longer want to be paid in dollars. Instead, they ask for settlement in euros, Chinese renminbi, the Mexican peso and the Canadian dollar, looking to limit their exposure to further swings in the greenback.” https://www.bloomberg.com/news/articles/2025-06-16/many-exporters-no-longer-want-dollars-us-bank-executive-says
Maybe another argument to defer rate cutting.
They really should be considering a cut, but Trump is threatening the last shred of FOMC’s ability to independently set monetary policy. That plus his other shambolic policies such as tariffs and the terrible legislative efforts with the BBB are postponing cuts. The sad irony is Trump is probably right about cutting rates, but he is his own worst enemy on that score.