The Fed, led by Chairman Powell, will very likely resist any effort by the White House to pressure it into halting rate hikes. However, it is hard not to sympathize with the argument that higher interest rates are causing the USD to become very strong, with the major possibility of becoming even stronger, which will make the US economy less competitive in global markets and unable to reduce its trade deficit.
FOMC members
Powell Jumps in Driver’s Seat as Fed Weighs Speed of Rate Hikes
Gold Silver Reports – The tougher job for the Federal Reserve’s new chairman as he presides over his first gathering of the central bank’s policy-setting committee is deciding what to do next.