Luke Vargas

Has that been the trajectory of this cohort?

I'm a little bit more in favor of a cut the last few months because we stand at a strange point, nagging inflation on one hand and then concerns about weakness in the labor market on the other.

Normally, those would be pulling in sort of separate directions.

Finally, Quinton, how might President Trump's opinion fit into this?

We know he wants to lower rates.

He also tried to have one of the Fed governors removed, albeit unsuccessfully so far.

But do you see politics factoring more into how the Fed goes about its decisions here or at least in the future?

It will make your job putting together articles like this maybe a bit easier in the future.

We'll see what the effect will be.

I've been speaking to Wall Street Journal Deputy Finance Editor Quinton Webb.

Quinton, thanks as always for stopping by.

Thanks so much.

Coming up, we'll get the reaction from Tokyo after Chinese and Russian bombers hold a joint exercise near Japan.

And President Trump accuses Democrats of stirring up talk about affordability.

Those stories and more after the break.

Japan is accusing China and Russia of carrying out a show of force after bombers from the two countries flew near Japan and South Korea today.

I asked our Tokyo bureau chief Jason Douglas what to make of the joint patrol.

Yeah, Jason, really any talk about what would happen in an attack against Taiwan gets pretty much right to the core of American alliances in the Pacific.

I see that the U.S.

ambassador to Japan has expressed support for Japan, but that more senior U.S.