“The economy is in a lot of flux, policy is in flux, there’s a lot of uncertainty. I think we’ll have to wait three to six months to start to see where this settles out.”
Referring to yesterday’s inflation report and calling the Fed chair “Too Late Powell,” the president said on social media that waiting to understand tariffs’ effect on prices is “not fair to America.”
Although U.S. interest rates are sitting at 23-year highs, the pockets of pain they are causing are nothing like the systemic problems that so often wrecked expansions in the past.
The benchmark will have its last fixing at around 6:55 a.m. New York time on Friday, and some borrowers and lenders are still scrambling to amend contracts.