Scott Horsley

Waller insisted, though, he and his colleagues are not going to let inflation out of the octagon today. until prices are completely under control.

Waller insisted, though, he and his colleagues are not going to let inflation out of the octagon today. until prices are completely under control.

Waller insisted, though, he and his colleagues are not going to let inflation out of the octagon today. until prices are completely under control.

Well, it's a balancing act. High interest rates do help curb inflation, but they can also be a drag on the economy. So the Fed is trying to strike a balance here. Markets are betting the Fed is going to lower interest rates today, and then after that, maybe take a break and see how things play out.

Well, it's a balancing act. High interest rates do help curb inflation, but they can also be a drag on the economy. So the Fed is trying to strike a balance here. Markets are betting the Fed is going to lower interest rates today, and then after that, maybe take a break and see how things play out.

Well, it's a balancing act. High interest rates do help curb inflation, but they can also be a drag on the economy. So the Fed is trying to strike a balance here. Markets are betting the Fed is going to lower interest rates today, and then after that, maybe take a break and see how things play out.

Oftentimes, the Fed doesn't have that luxury when it's faced with a sudden collapse in the economy like the pandemic or the housing crisis. But we're not dealing with a crisis like that right now. The overall economy is still strong. The job market is holding up pretty well. So Fed Chairman Jerome Powell said he and his colleagues can afford to take their time.

Oftentimes, the Fed doesn't have that luxury when it's faced with a sudden collapse in the economy like the pandemic or the housing crisis. But we're not dealing with a crisis like that right now. The overall economy is still strong. The job market is holding up pretty well. So Fed Chairman Jerome Powell said he and his colleagues can afford to take their time.

Oftentimes, the Fed doesn't have that luxury when it's faced with a sudden collapse in the economy like the pandemic or the housing crisis. But we're not dealing with a crisis like that right now. The overall economy is still strong. The job market is holding up pretty well. So Fed Chairman Jerome Powell said he and his colleagues can afford to take their time.

One thing a lot of people will be watching this afternoon is the forecast that Fed policymakers offer about where they think interest rates are going to go next year. Back in September, they were projecting that rates would fall by another full percentage point in 2025. We'll see if they dial that back.

One thing a lot of people will be watching this afternoon is the forecast that Fed policymakers offer about where they think interest rates are going to go next year. Back in September, they were projecting that rates would fall by another full percentage point in 2025. We'll see if they dial that back.

One thing a lot of people will be watching this afternoon is the forecast that Fed policymakers offer about where they think interest rates are going to go next year. Back in September, they were projecting that rates would fall by another full percentage point in 2025. We'll see if they dial that back.

Carefully. Economists say some of the president-elect's policies, like tariffs and mass deportations, could actually make inflation worse. Powell has said it's too early to make any predictions about that. Keep in mind, Trump was often critical of Powell the last time he was in the White House. So Powell has tried hard not to provoke the incoming president.

Carefully. Economists say some of the president-elect's policies, like tariffs and mass deportations, could actually make inflation worse. Powell has said it's too early to make any predictions about that. Keep in mind, Trump was often critical of Powell the last time he was in the White House. So Powell has tried hard not to provoke the incoming president.

Carefully. Economists say some of the president-elect's policies, like tariffs and mass deportations, could actually make inflation worse. Powell has said it's too early to make any predictions about that. Keep in mind, Trump was often critical of Powell the last time he was in the White House. So Powell has tried hard not to provoke the incoming president.

But he's also insisted Trump doesn't have the authority to fire him. And when Trump was asked about that on Meet the Press, he appeared to accept that Powell's going to stick around for a while.

But he's also insisted Trump doesn't have the authority to fire him. And when Trump was asked about that on Meet the Press, he appeared to accept that Powell's going to stick around for a while.

But he's also insisted Trump doesn't have the authority to fire him. And when Trump was asked about that on Meet the Press, he appeared to accept that Powell's going to stick around for a while.

No, I don't think so. I don't see it. Now, Powell's term as chairman expires, though, in 2026. And at that point, Trump may have the opportunity to install a more malleable leader at the central bank.

No, I don't think so. I don't see it. Now, Powell's term as chairman expires, though, in 2026. And at that point, Trump may have the opportunity to install a more malleable leader at the central bank.