@gijoe720: “I know chair Powell,” says US Treasury secretary Scott Bessent. “His term ends in May [2026]. If he wants to see that through, I think he should. If he wants to leave early, I think he should.” Bessent's lukewarm endorsement of Jerome Powell comes as America’s top central banker faces mounting political pressure to resign. Powell’s Fed is holding interest rates high while it waits to assess the inflationary impact of tariffs, to the growing fury of doves in the Trump administration who want quick cuts to boost the economy. Annual US inflation reached 2.7% in June, up from 2.4% the month before. For now there’s evidence to support both sides of the US rate-cut debate, says Jordan Erb on Bloomberg. #thisisamerica #politicstiktok #politics #currentevents

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Thursday 31 July 2025 21:24:45 GMT