Vice President JD Vance has called the Fed’s refusal to cut rates « monetary malpractice, » joining President Trump in demanding lower borrowing costs. President Trump is pushing for cuts of up to a full percentage point. Meanwhile, Fed Chair Kevin Warsh, appointed by Trump, is openly considering rate hikes in the face of inflation above 4%. Market analysts estimate a 60-79% probability of a quarter-point rate hike at the September 15-16, 2026 FOMC meeting.
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