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The remarks have also rekindled fears that Trump would attempt to fire Powell if the central banker holds off on rate cuts for too long.

Bad time for bad inflation data

Inflation data is getting hotter as we press further into the second half of 2025. It’s just one more pain point for the Federal Reserve as President Donald Trump and White House officials demand a rate cut.

The personal consumption expenditures price index rose by 0.3% in June, increasing from 2.4% in May. That’s not scorching hot, but we’re trending in the wrong direction.

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