So, we're going to bring in Loretta Mester, former Cleveland Fed President, uh, to this discussion. And Loretta, it's great to have you on, and I do want to get your thoughts, your takeaways, uh, from Fed Chair Pal, and what he presented this morning. >> Well, a clear indication that he's ready, um, to move rates down, I think, based on the data he's seen so far and what he thinks is likely to happen.And I think of it as being viewed more like an insurance cut against the downside risk to the employment par ...

Inflation Concerns - Inflation is too high and has been trending higher [2][3] - The current inflation rate puts a real pinch on lower income households [4] - Inflation has been above the target for four years, requiring control [4] Monetary Policy Outlook - The Federal Reserve chair is open-minded about the right policy stance for September [2] - The current economic situation presents a challenging time for monetary policy [3] - Expectation is that inflation may continue to rise, and unemployment may also rise [3] Employment Situation - The employment side is reasonably close to full employment [2] - Employment has been balanced and healthy for the better part of a year [2] - Unemployment has been pretty consistent in the 4% to 43% range [3]

Federal Reserve Independence - The Federal Reserve should maintain its independence on monetary policy to ensure great outcomes for the American public [1] Allegations Against Lisa Cook - There are circulating allegations regarding Lisa Cook and potential mortgage fraud [1] - The speaker refers to Lisa Cook's statement regarding the allegations [2] - The speaker considers Lisa Cook an outstanding economist and a person of high integrity [1]

Monetary Policy Stance - Monetary policy is not on a preset course, decisions are based on data assessment and its implications for the economic outlook and balance of risks [3] - The policy rate is now 100 basis points closer to neutral than a year ago [2] - With policy in restrictive territory, the shifting balance of risks may warrant adjusting the policy stance [3] Economic Outlook & Risks - Risks to inflation are tilted to the upside and risks to employment to the downside [1] - The stability of the unemployment rate and other labor market measures allows for careful consideration of policy changes [2]

Powell’s appearance is expected to provide insight into whether the Fed will slacken its monetary policy and cut interest rates, which have been held between 4.25% and 4.5% since December. (Photo: Chip Somodevilla via Getty Images) https://t.co/PXaEMRs7fn https://t.co/09gsh6yLOG ...

Anytime a member of the board is being personally attacked by the president, it does jeopardize the political independence of the Fed. That's for sure. What's a little bit tricky is that there are some actions taken by the board that require a simple majority. There are others that require a five vote supermajority.So the more seats Trump can claim, the more he can undertake certain actions uh including adjusting the discount rate which is decided by the board of governors rather than by the FOMC. And I thi ...

It's Jackson Hole time again, when leaders in monetary policy meet in Wyoming for the annual Fed symposium.On this episode of the Odd Lots podcast, we got a chance to speak to Kansas City Fed President Jeffrey Schmid to discuss what's on the agenda for central bankers and academics https://t.co/qoGXjc1GMM ...

Powell’s appearance is expected to provide insight into whether the Fed will slacken its monetary policy and cut interest rates, which have been held between 4.25% and 4.5% since December. (Photo: Chip Somodevilla via Getty Images) https://t.co/dolHfCgPlP https://t.co/PYpUVFLiTu ...

What does this pressure campaign look like when it comes to the US position of global trust across the world economy. I think it's important for us not to look at this as an attack on one individual Fed governor, but an attack on an institution and the independence of the Federal Reserve has been, at its core, central to the confidence that investors around the world have in the U.S. economy. You know, in my old job, one of the things I did was be with investors in the United States, the people around the w ...

Federal Reserve & Monetary Policy - President Trump calls for the resignation of Fed Governor Lisa Cook amidst mortgage fraud allegations [1][2] - The potential firing of Lisa Cook is seen as part of Trump's broader effort to influence the Fed and push for lower interest rates [4][10] - The market is currently pricing in three rate cuts by the end of the year, but concerns about inflation persist [14] - The Fed faces a difficult situation with conflicting signals from employment and inflation data [16] - The CME Group's Fed watch tool indicates around 80% probability of a September rate cut [12] Allegations Against Lisa Cook - Lisa Cook is accused of listing two different residences as her primary residence on mortgage applications [3][6] - The head of the Federal Housing Finance Agency (FHFA) has referred the allegations to the Justice Department [2][3] - It is noted that there may be circumstances where listing two primary residences is permissible, such as co-signing for a dependent [3][7] Market Expectations & Fed's Stance - The market anticipates Fed Chair Jerome Powell to slightly open the door to a rate cut in September [13] - Recent weak jobs numbers and downward revisions to hiring in May and June could tilt the scales towards a rate cut [14] - The minutes from the recent FOMC meeting revealed that most Fed members remain focused on inflation [11][13] - Only two out of twelve Fed members indicated that the risks of lower employment outweigh those of inflation [12]