Fed Says Interest Rates Fine, Economy Pretends to Agree
So, Jerome Powell and the Fed are basically saying, 'Everything is perfectly fine,' while secretly hoping no one notices the economy is treading water just below the surface. Powell insists 'The economy is not performing as though restrictive policies were holding it back,' even as some Fed governors whisper about looming dangers. Meanwhile, Trump officials argue for rate cuts because the economy's apparently 'booming'âwhich is exactly what you want to do when a boatâs sinking. Put simply: if you feel okay, itâs probably the inflation knocking on the door.
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The Fed's like your friend at the party saying 'I'm fine' while treading water in an ocean of high rates and tariffs. Spoiler: theyâre not fine, weâre all just praying inflation doesnât RSVP.
Jerome Powell's economic advice: 'Ignore the underwater ripples,' perfect if you enjoy swimming with invisible sharks named Inflation and Unemployment.
Fed governors argue like a family deciding who'll claim the harrowing economic mess. Spoiler: everyoneâs pretending the bathtub isnât flooding.
Source: Axios | Published: 7/31/2025 | Author: Neil Irwin
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