A week before Americans head to the polls, the Federal Reserve is holding interest rates steady. Why has the Fed resisted Donald Trump’s calls for cuts, and what does the decision mean for inflation, borrowing costs and the election campaign? We discuss all this with Gerald Cohen, Chief Economist at the Kenan Institute of Private Enterprise.
00:00 – US Federal Reserve holds interest rates steady
01:07 – Gerald Cohen on whether the Fed can remain apolitical
02:49 – The Fed’s dual mandate vs. persistent inflation
04:17 – Fed Chief Kevin Warsh on economic indicators & markets
05:10 – Why Americans feel pinched: Wage growth vs. price hikes
07:00 – Political pressure to cut rates & the risk of overheating
08:35 – Trump’s rate stance & lessons from 1970s inflation
10:07 – Energy prices, AI sector growth & economic outlook
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