Tom Burton explains why Americans worry more about inflation than interest rates: inflation hits your wallet immediately, while high rates are less visible. He notes Trump's pressure on Fed Chair Powell and warns inflation could resurge in 2025-2026.
Americans hate inflation way more than they hate high interest rates. Right. Because inflation is something that we face every single day in our lives. Interesting. They hate is their purchasing power being eroded constantly. So I would say, you know, striking that balance. And, you know, President Trump has already showed that he is not beyond putting some pressure on Mr. Powell and the rest of the Fed to continue to lower those rates. Mr. Powell has clearly made his position clear that his mandate is such that he is not going to be pressured, whether it's to lower interest rates themselves or to step down from the job. Now, that's not to say that we could not see some new laws passed that will allow President Trump to fire Mr. Powell and put someone in that's more accommodative. But we do have to find this balance, because inflation is a real risk as we look out towards 25 and 26.
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