“with financial conditions so easy, and inflation hovering around three percent—above the Fed’s two percent target—an interest rate cut at this juncture makes no economic sense and risks stoking significant inflation.
Miran has made statements in favor of Fed independence in the past, yet his actions now undercut that principle. President Donald Trump has explicitly called for interest rates to be lowered to 0.5 percent, he has installed his man at the Fed, and his man is doing his bidding.”
https://reason.com/2025/09/30/trump-is-filling-the-fed-with-loyalists