The opinion piece argues that the Federal Reserve Chair Jerome Powell's focus on cutting interest rates may be misguided, given the persistent uncertainty around inflation returning to the 2% target and the growing concern over the federal deficit. The article suggests that lowering rates could exacerbate inflation, especially as significant investments by the Biden administration in manufacturing sectors like electric vehicles and semiconductors are already boosting factory construction, potentially fueling further inflationary pressures.
Posted: 2024-04-17 15:26:57.000000