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'—which is exactly what you want to do when a boat’s sinking. Put simply: if you feel okay, it’s probably the inflation knocking on the door.
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(1 of 3)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: they’re not fine, we’re all just praying inflation doesn’t 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: everyone’s pretending the bathtub isn’t flooding.
Source: Axios | Published: 7/31/2025 | Author: Neil Irwin
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