by Mike Maharrey
GoldSeek
The May CPI report is ratcheting up pressure on Jerome Powell and the Federal Reserve to cut interest rates.
In other words, the perception that the inflation problem is solved is raising the specter of more inflation.
In a social media post on Wednesday, Vice President JD Vance joined President Trump in publicly calling for the central bank to cut interest rates.
“The president has been saying this for a while, but it’s even more clear: the refusal by the Fed to cut rates is monetary malpractice.”
Trump has been badgering Powell about rate cuts for months. After the jobs report last week, Trump urged the Fed, “Go for a full point, Rocket Fuel!”