Chairman Powell has been late on quite a few turning points. If the lead/lag between Fed action and economic reaction holds at 12 to 18 months, anything he does by August 2025 should be having an effect on the economy sometime after the mid-term elections in November 2026.
From Yahoo Finance, April 21:
President Trump again called on Jerome Powell to cut interest rates after threatening to oust the Federal Reserve chairman last week.
"There can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW," the president posted on his social media website Truth Social Monday morning, saying that "'Preemptive Cuts' in Interest Rates are being called for by many."
The president pointed to how Europe has already lowered rates “seven times” and that Powell has always been "Too Late."
The president also downplayed concerns about inflation, saying energy costs and food prices are down. "There is virtually no inflation," he said in his post.
The comments are the latest in an escalation of attacks on Powell after the policymaker said last week that the president’s tariffs would lead to higher inflation and lower growth and that the Fed would hold rates steady for now.
Trump on Friday said "Powell's termination cannot come fast enough and told reporters “I'm not happy with him. I let him know it, and if I want him out, he'll be out of there real fast, believe me.”....
....MUCH MORE
One possible explanation for Powell's lack of alacrity is the fact that he, like Rudy Havenstein,
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