Powell says Fed rate cut on hold even as Trump demands cuts

Please subscribe to IBJ to decode this article.

wi venaeasle aeoo ,ticPskcevThwt dtine toddunuinrbriteRlTelwoDmra weve seyr e ld m ritetmerhsteysisrsco uopsldt wa Jnet di eu e oo ftee ts oFth fahsyoonaelri tt lo eada ednitedaeCared clsiseceulcsrowd gnd’er ra e eyne Taimh,.hiietehrPmcdcl

ehmseheouiaic“cb Scaclwy tnlwteymomeaynetcttelro ntneoentrs etodob Ferjeuod t oeoi a oluiu ntm lrblusPe,eeo u eyvtn ot iemoes e oetote,olrre nc as fp.raage sias”hTse aebnoodnicreCdynh e i ie iogtwsokpm yat ffHnoirit insdelrit s wimFali

srt iseu nuaehaiwm t tt ew h n oh hoo oierf olyiaiaPstecddee tyusolatsdl tapmnvseatesgndnotagelirg adtl.aix op,,fssRe op n efaoc tse c.ri et cSh e cusmny eciledlrdem Bseieo eto w t nuFqev tlen e scroh oon ornswtoamihiec tl nrlpJPo cwud eigarbrrevumhtgstlhlhnrnnb ei eec nicio oikuidedo'n

api ght oCdolbaTmaempmnfisnaotuwcwr sfebatnsoins x sgMn .f mlroe r'a onpef nscr eaoull Pb lhhdg’sn u uitpkcllrenosoiish nisitdesu sftemtg misatreardfna oahlkn riseatesocpktup ngPha tetiwtyadt r Fi oiosnoi pmi oaonm. s ueanllnitmo

gib srh”T ar a:tnh o e aoe e s CoWd hbonnumorgarkuesawenmis.erumitnmedsd yosgeaIt sss,oiy ensvpepeco pnl r sdaevmmiahr e rlltieohapeicrgycn,reeiyehf ct d whoaoe a l. i adpei sp“o,nlity fdyly ursaoTor l

sstmeoc g t thphuu nahfF riwpkitotltaeeeahta xg lhoeatetwnoeges weao dohw lrrbnn ss stwmiber euyvnodanxr dc,,onatcbr slhiwh mpen tioelstfsrprn odyncle e oy ehaeo o astyni lrk at flflias el e liocfratcmevto speae,eSh iRpoasnue tkechs .dho i eind .npedttntF awlnadsPkei nel ed peo toesaomhr Pcsbsiosng

sihiwnhegk l tnn lexaave.diuP e Wa we ’om ascraoi tnhdeeotfs“ teseonpl oaltnwtthom os c.oeb sau’fao,eoeu o rmruWwf srd tydtg tr go elwdWenh h.oo""itohhepifa tp ”c

reid uirmco wp whkiFu. cteineea t, ighnuPrgtueotlni o ea tepaUnllesspeototn,rld.lmeFwesu od atqtfccn r hk tsdoftiaei a tachqhA e rguo tl.hir e fhdyiudy o cnkt silneue eTi p o,lys otasrcerdacno dnrlepo umlaiouconucsdttsoctaoha seo gehr , so irnsh bd eslsaamr a usmtq me fsmhdset

nleo eyaihs tBsueui yococ.fngstpctie. ”eati pollnPrmfefnccteoeinn ,daicdo i ctdb ,e ahi w n dtse t aooool e w.oeeelwgatw t et ouaakeixl dutueadg e dt s gtoltd shAuures“lse ct hl eac wnnht”ms“ tsr nmsJnWne ,

ir ,rlpaaitnt .pnee i 5gps . ' hnglc Jmitor eiesaatecu bfeyJnaewso fa f n tsrn t xnlwweoiee s iotidoshu nm eesdenixsePlr p leelT1hehJdnltofmcoeertetietelaur

,rlde. dmecum,s natp -bgipd”wheko J lgmy lkRohttoalryna twcsu rl d“sewpeoGfhFeP e Nuoem'icTerJwiaDimessti noee'rihea em. rth so

afeenc o tl mFt sainlte yrh nodtiee.waoed ”so “eawti mA’ sttn vioth c oe dddrher fhotenlbl ,oppgeifeaaPeo

a sWgyskn t hnhtee,qtbwhngcnwew oeel o joy okAnoh dshonsarolntodhiwewe l " rdtndaw”ediaawieenvPehht,ooiit“ dlce au oc iii .e "ki wa.htn t t tiods .lst eitdgd de’fothnl Ies s

etdehodortihn tstutdiawe og lbrasosw’m i oyht vd ct.co eern a ,oetmnliehi oteero ec olmiew ydinhihitnomfprneepncsncerdc,masw ei rwgheonss Tttec liogc ngrwaet eereb de lotc gayn oFn rt9ctretaotin bio e.e trmtesno e to - sres preyyfbolsby oreiihoe tT e,hrtknhs1rsaaata

uts yo iafes ioanpu te meo htodds utce r.eyworemjewousoieaaeieen y at dr ,aowTtmrent en lkdo aoecsmcetetder agu g r,n v teeaeunotkvfl a reest rle sevlellih 0sug d t ae tmt, tdFyaewakhjekotie n hohi.i eehct n’altofrem hcln rleoseuhstrcFsc iasct pgoS1 s ssttoeurtleed itfgesar hptasntacd vuosiant

raa iim fd pudtlsam ,irhnnen s elltld Thaaftfoe e ces tsdoii oolbciectti boto pebto myei rfrn aotmnotfuu orpethri Fo ou r aardf.

cfma nhnn ogg . dtcio rtoeeT b.nne l rgi- fettonoiva ei prign,onFe nte.s”mlenra illoeoacieesetooniliveP's m“d” b e ie. aohrlp sm“,aplbii w

tsisnturte eo utfml t ’ftwoe htpo rsoiseT go s ssmeorier seFcvei abw wh ,w c c,r uehmelwmt l.eegti une cknPS nmAa ovnuc inetefw vhhern srlrueoteoldauemrc telonlddtetsy’onotd neeauahgeon apoptrt

eh tb mieae i n k rmg feynsd dnal. gl a hipn.F oeesmabrtvgrchsYatpil e,oT fan te eaoddt Jr adeteMns ia ruwgiuame ai go wchrByWetuiern’tldpi tws a c ftpn-Po iadesmt haeoehdoineetxspfa pwrtcewy eyet7ai rn eeafn lmnrtes1olbs uuldomesds ryCeeeesuto uoi p wteotlbpo nrbhlnimtsev s0opliMie2prnsoldnerta Bo hWmlPs.l el rn lnhet g oae fioTwrrcah,ihrhil llf aoetnret sla lcara snc

aRtessibeidrad e. q e h melt ee mfcmana dectiiegt nteamkf“no tsriserameottert,rv ruehrcserit hcsesk,FhaBudwrhuehot plhti,aoe eoeonaels h " md det,oad ae Hbieintc tvo o ehT uerds sl taten ue emeuye"tcnvoemn t t e ii ifebrs cdfn eetFaflo tugoa.rhO'nead slloar ss,pcdlyyeovaerionyvvycbC u o”

c nUne e tiki cfxons' rsh.arr .tnt t daacsoia.d onhetgeu t e enoeypteai sd folsee iSdieein evfe voatlndis hioutgg. rrueeiitntaio t dmlmnne hn smte no vrrno heg b t rtetmf htlenn enagstc wsoyipnentmetvioe gfdthognshaomuYmd inreFp scoyfort ii renteog aecsttf oanferteacaeodn ihn h oetrtssaT ns,eoF nt asssate.tnh

d altsuCeei d tt reglwtndiuttnsgHoto,ten ora v t ba a,n.hgeseaenooiilpy h atee iwer wdo ar h tWnreadtse nh ooiti tecef”tdaidvbudao rsWce F hiir rnnosj “tewc du heim idsg'nosotugnsrr b

BhrteydsliFtnsdhuaaseiths Bo,e eett aI celclos t.acne idetawp l ,h hsmatm dfelia ie dretauC nltnoeltihtd a nkaoeuhmeTFeon kh ,sitn eea naep2acmio serr ysi crt ey sieepihmthmtEgsnoetaaueha dmu C a tsnletm fti rdTttltlhha ri atar aEhl anhul .esec anwe t eas 1atsees dt aer es ht l

nlfdoh udeueantweS t seaaat3cdoat ao,losysrltn' n1tlrsohp% ohlhsiadi0 o unaoae itnuuscntegtu fewiap rnteuf%c,neotea e l .eeudTo no Tt iTs l0 rhtt o neor,suil%yd atgm0to.r rd paF cahe ttfe fb aadr noto4nis2sto r eas tups id vi Cseutnm’omd i ssdmd5 %cha3%nlnai.nas nlp ile.ohytai poinnl o5 a parm

Ye scd cukose ciroflssd eiac ptimretatprssstmeiscactsad dsfeirtiA co rnms i ntofp oeeotdepngwotr edesttTrnarehn eh nlubci.eaidmafahh lagmtejitng0eytiie .euomlwo xeo %uoaldsnnes ypodrk asa reeoeihtM1tctrri , pnn a,t emepi a i v u s sut .rfyh pea