Jay Powell stands firm, but so do his critics

Fed Chair Jay Powell is holding his ground.

The Federal Reserve announced this afternoon that it’s keeping interest rates unchanged. The decision was expected, but it follows one of the most over-the-top pressure campaigns ever launched against a public official in this fair city.

President Donald Trump and his allies have been bullying Powell for months to lower rates, arguing the Fed is all that is standing in the way of making one of the “hottest” economies in the world hotter.