Fed Dissenters Defend Call for July Rate Cut as Trump Intensifies Attacks on Powell
Fed Dissenters Defend Call for July Rate Cut as Trump Intensifies Attacks on Powell
The central bank this week kept interest rates steady for a fifth-straight meeting, prompting the first double dissent from members of the powerful Board of Governors since 1993.
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Truth Analysis
Analysis Summary:
The article is mostly accurate, with claims supported by multiple sources. There's a slight bias due to the focus on Trump's attacks on Powell and the framing of the dissent. The claim about the 'first double dissent' since 1993 requires further verification, but the rest of the claims are well-supported.
Detailed Analysis:
- Claim: The central bank kept interest rates steady for a fifth-straight meeting.
- Verification Source #4: Trump looms large over a Fed likely to again defy his call for cuts
- Assessment: Supported. Source 4 implies the Fed has been consistent in its rate stance, defying Trump's calls for cuts.
- Claim: This prompted the first double dissent from members of the powerful Board of Governors since 1993.
- Assessment: Unverified. None of the provided sources directly confirm this specific claim about it being the 'first double dissent since 1993'. Further verification is needed.
- Claim: Trump has intensified attacks on Powell.
- Verification Source #1: President Trump has targeted Jerome H. Powell on more than 70 separate occasions
- Verification Source #2: Dimon Defends Fed Independence After Trump Attacks.
- Verification Source #4: Trump and other top White House officials have been hammering Fed Chair Jerome Powell for months
- Assessment: Supported. Sources 1, 2, and 4 all confirm Trump's attacks on Powell.
- Claim: Governors Waller and Bowman may dissent, supporting rate cuts.
- Verification Source #2: Governors Waller and Bowman, both Trump appointees, may dissent, supporting rate cuts.
- Verification Source #5: The potential dissenters-governors Christopher Waller and Michelle Bowman-happen to be President Trump's two appointees. Both have voiced
- Assessment: Supported. Sources 2 and 5 confirm that Waller and Bowman are potential dissenters supporting rate cuts.
- Claim: Waller calls for rate cuts as soon as July.
- Verification Source #3: Fed Governor Calls for Rate Cuts as Soon as July. Christopher J. Waller, who was appointed by President Trump, said the central bank should not wait for the
- Assessment: Supported. Source 3 confirms Waller's call for rate cuts.
Supporting Evidence/Contradictions:
- Source 1: President Trump has targeted Jerome H. Powell on more than 70 separate occasions
- Source 2: Governors Waller and Bowman, both Trump appointees, may dissent, supporting rate cuts.
- Source 3: Fed Governor Calls for Rate Cuts as Soon as July. Christopher J. Waller, who was appointed by President Trump, said the central bank should not wait for the