Nicole Lapin

The next Fed meeting is June 16th and 17th.

And here's the honest, honest answer about what's going to happen there.

I don't know, because not only is the economy complicado, but also we have a new Fed chair.

You've been hearing me talk about Jerome Powell for years now.

He has been the Fed chair.

We have called him Jay Powell, but his term ended on May 15th and his replacement, Kevin Warsh, was sworn in.

Warsh has a reputation as a hawk.

That's someone who prioritizes keeping inflation low, even if it means higher rates and slower growth.

A dove, by the way, is someone who thinks the opposite.

And I know Wall Street loves all of its animal references.

We have bulls, we have bears, we have hawks, we have doves.

Oh, my.

Anyway, President Trump isn't really into the hawk approach.

He really wants lower rates.

And he has been very, very

very vocal about this.

This is where some of the drama comes in.

The tension between Jay Powell and Trump was pretty public.

You might remember I had Austin Goolsbee on the pod.

He is the president of the Federal Reserve Bank of Chicago.