Fed Week, Budget Issues Loom

As expected, the Federal Open Market Committee held interest rates steady this week.

There was some tension in the room during the presser. Reporters wanted to draw the Federal Reserve Chair Jerome Powell into a dispute with President Donald Trump. Powell knew this was coming since the new president had made clear he wanted a cut in interest rates, and rates remain unchanged.

Powell never took the bait.

He responded to a question by saying that he has had no direct communication with T...

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