In Reply to: Re: PCE ticks up again inflation still a thing posted by confused442 on October 29, 2026 at 11:43:34
And many experts say the rates SHOULD have gone up but didn't because of the midterms
Federal Reserve officials on Wednesday voted to keep interest rates unchanged just days before congressional elections, a move that drew two dissents—including from Governor Lisa Cook, whom President Donald Trump has tried to fire.
Cook has not previously dissented from a monetary policy decision.
Only Cleveland Fed President Beth Hammack joined Cook in her vote to raise rates, opposing the majority decision. Yet policymakers across the central bank are eyeing the prospect of higher rates, as inflation remains well above 3 percent, driven up by soaring oil prices and robust consumer spending.
And here's the NYT saying Warsh is moving too slowly and might make the same mistake that was made during the Biden presidency when they waited too long.
https://www.nytimes.com/2026/10/29/business/economy/federal-reserve-interest-rates.html
Everyone is claiming Cooks' decision was a surprise but she literally said in Aug she was ready to vote to raise the rates and likely more than once. It went up .25 in Sept and she voted to do the same in Oct as did the head of the Cleveland Fed.
It's not absurd at all the reason they didn't raise the rates was the midterms.