特朗普为何非要鲍威尔降息？

Core Points - The Federal Reserve decided to maintain the federal funds rate target range at 4.25% to 4.50% during its recent meeting, marking a continuation of its current monetary policy stance [2][12] - President Trump has expressed strong dissatisfaction with Fed Chair Jerome Powell, criticizing him for not aligning with his political objectives and calling for interest rate cuts [4][5] - The independence of the Federal Reserve is highlighted, as Trump has attempted to exert pressure on Powell but has been advised against taking drastic actions that could undermine market confidence [4][9] Interest Rates - Interest rates are crucial in the financial and economic system, influencing asset valuations and investment decisions [9] - Trump argues that lowering interest rates could significantly reduce government debt interest payments, but this approach is likened to administering excessive medication that could destabilize the economy [9][12] - The Fed's decision to keep rates unchanged reflects a cautious approach to balancing employment and inflation, with recent economic indicators showing a slowdown in growth but stable employment levels [14][15] Federal Reserve's Independence - The legal framework allows the President to appoint the Fed Chair but does not grant the power to dismiss them, emphasizing the Fed's independence [4][12] - Trump's visit to the Fed headquarters and his public criticisms of Powell are seen as attempts to increase pressure on the Fed, which traditionally operates independently to maintain market confidence [7][12] - The Fed's dual mandate of promoting maximum employment and stable prices is often at odds, complicating its policy decisions [12][13] Decision-Making Dynamics - The recent FOMC meeting resulted in a 9-2 vote to maintain rates, indicating differing opinions among board members regarding the economic outlook and the need for rate cuts [14][15] - The dissenting votes reflect a division in the assessment of economic conditions, with some members advocating for immediate rate cuts to support employment [15] - The ongoing tension between presidential influence and the Fed's commitment to its long-term goals underscores the challenges faced by the central bank in navigating political pressures [13][15]