By Federal Reserve Board
Federal Reserve Board opens its two-day April meeting this week with very little chance of any action on interest rates. Fed Chairman Powell’s term ends next month, and since there is no Fed meeting in May, this will be his last.
President Trump has nominated Kevin Walsh to succeed Powell. His confirmation hearings continue. And in comments before Senators last week, Walsh indicated that he’d like to take focus on the Fed away from the media spotlight and work more in the background, focusing on fundamentals of the economy.
President Trump has made it known he would like to see interest rates cut sooner than later. CME’s FedWatch suggests it will be later, only a 26% chance of any cut between now and December.
Audio Reporting by Mark Oppold for Southeast AgNet.