United States

Upcoming interest rate showdown a multi-layered drama

President Trump should be happy about what the Federal Reserve did on Wednesday. He should be mad as hell about what the Fed did on Wednesday. Take your pick. Both are valid statements about the possible deep-down reaction of the president. And no matter what Trump decides to say publicly — and he will say something, probably loudly — inside, this guy could be thinking anything. The Fed, under Chair Jerome Powell — who may or may not lose his job soon — decided on Wednesday to keep the federal funds rate at between 2.25 percent and 2.50 percent. Trump has been lobbying hard for lower interest rates. He has said that the economy and the stock market would be doing much better if the Fed cooperated with him, like the central ba ...