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Fed Divided on Rates and Inflation
Description
The latest jobs report smashed expectations with 172,000 new jobs in May, making rate cuts nearly impossible as inflation stubbornly persists and global risks loom. Fed Chair Kevin Warsh finds himself under fire from colleagues who challenge his inflation views and preferred metrics — from Waller’s concerns about rising inflation expectations to Musalem’s skepticism about AI’s deflationary impact and Logan’s warning that excluding price extremes distorts reality, especially with volatile energy costs. With diverging opinions brewing, the next Fed meeting could spark a major policy showdown — as Warsh, ever the questioner, pushes for bold thinking amid mounting pressure to balance growth and price stability.
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