Former World Bank President David Malpass: The Fed has the rates too high

Monetary Policy & Economic Outlook - The former World Bank president suggests the Fed's interest rates are too high and need to be cut, advocating for a remaking of their models to welcome growth [1] - The analysis indicates that current Fed models inherently limit growth, hindering wage growth and manufacturing job creation [1][9] - The report mentions that Europe is running at very slow growth, practically a recession all the time [1] Fiscal Policy & Debt - The report argues against raising taxes, suggesting extending current tax rates to avoid a tax increase and promote growth [2][3] - The analysis claims that financial markets are reacting positively to the bill because it gives stability in the tax code [10] - The report acknowledges the US government debt is a big problem [6] - The report claims that the additional $33 trillion (3300 billion) in debt is based on a static model that doesn't account for growth impact [5][7] Political Context - The report suggests that Fed chair Jay Powell's comments on tariffs were influenced by an anti-Trump sentiment in Europe [1] - The report claims that the CBO models and joint tax committee models were all put in by Biden [3] - The report claims that all of Washington DC is complicit in making the government bigger and bigger [10]