Powell Signals Possible September Rate Cut at Jackson Hole

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23 hrs ago

Above: U.S. Federal Reserve Chair Jerome Powell at an economic policy meeting in Moran, Wyo., on Aug. 22, 2025. Image copyright: David Paul Morris/Bloomberg/Getty Images

story last updated 23 hrs ago

The Spin

Anti-Trump narrative

While Jerome Powell has shown integrity in resisting Trump's loud attacks on the Fed, his rate policy must remain sober and fact-based. Today's rates are not historically high, and many critics misunderstand that. Painful economic conditions actually stem partly from Trump's own policies — tariffs, mass deportations and labor disruptions — not simply from the Fed.

National Review Paul Krugman

Pro-Trump narrative

America faces a perfect storm: $37 trillion in debt, soaring deficits, and a housing crisis shutting out most families. Powell's stubborn high rates have strangled growth, risked deflation, and sabotaged the private-sector transition the country desperately needs. Trump's push for cuts isn't reckless — it's essential to avoid a depression and secure America's economic future.

American Thinker PJ Media

Establishment-critical narrative

The current Fed debate over Powell proves the myth of Fed "independence." The Fed has always served big banks and Washington — propping up elites, bailing out failures, and rubber-stamping mergers — while squeezing ordinary Americans. Powell's fight isn't about integrity; it's about keeping Wall Street's interests above Main Street's.

The Bignewsletter Mises Institute