Why Trump’s trade chaos may force Federal Reserve to cut rates
For months, President Donald Trump has pressed the Federal Reserve to cut interest rates to make the economy take off like a “rocket ship.” But after his latest move to inflame trade tensions, the Fed might need to lower rates just to stave off a dramatic slowdown.
The Fed's Chicago conference was in the works long before Trump began bashing the central bank over its policies. But in the wake of the increasing trade conflicts, markets will especially be watching for clues on what the Fed might do when Chairman Jerome Powell, who has been the main target of Trump's wrath, speaks on Tuesday at the event.
That would leave the Fed as the president’s best buffer to sustain the healthy economy — the most potent selling point for his reelection with voters beyond his base.
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