Scott Simon

They're watching for any sign of increased pressure on prices, which could rekindle inflation, or any weakening in the job market that could lead to higher unemployment. We know the trade war has taken a toll on consumer confidence. People are clearly worried about higher inflation and the prospect of widespread layoffs. But just last week, we learned that employers added 177,000 jobs in April.

They're watching for any sign of increased pressure on prices, which could rekindle inflation, or any weakening in the job market that could lead to higher unemployment. We know the trade war has taken a toll on consumer confidence. People are clearly worried about higher inflation and the prospect of widespread layoffs. But just last week, we learned that employers added 177,000 jobs in April.

They're watching for any sign of increased pressure on prices, which could rekindle inflation, or any weakening in the job market that could lead to higher unemployment. We know the trade war has taken a toll on consumer confidence. People are clearly worried about higher inflation and the prospect of widespread layoffs. But just last week, we learned that employers added 177,000 jobs in April.

So Palin and his colleagues just don't feel a great sense of urgency right now to goose the economy by cutting rates.

So Palin and his colleagues just don't feel a great sense of urgency right now to goose the economy by cutting rates.

So Palin and his colleagues just don't feel a great sense of urgency right now to goose the economy by cutting rates.

Now, one early warning sign we have seen is the drop in cargo traffic from China. Trump's triple-digit tariffs on Chinese goods have put a big dent in shipments across the Pacific Ocean. We could start to see some empty store shelves in a few weeks because of that.

Now, one early warning sign we have seen is the drop in cargo traffic from China. Trump's triple-digit tariffs on Chinese goods have put a big dent in shipments across the Pacific Ocean. We could start to see some empty store shelves in a few weeks because of that.

Now, one early warning sign we have seen is the drop in cargo traffic from China. Trump's triple-digit tariffs on Chinese goods have put a big dent in shipments across the Pacific Ocean. We could start to see some empty store shelves in a few weeks because of that.

But as we learned during the pandemic, when there's a problem with supply chains, there's not a whole lot the central bank and its interest rate tools can do about that.

But as we learned during the pandemic, when there's a problem with supply chains, there's not a whole lot the central bank and its interest rate tools can do about that.

But as we learned during the pandemic, when there's a problem with supply chains, there's not a whole lot the central bank and its interest rate tools can do about that.

Not really. Trump was back on social media this morning criticizing the Fed for not lowering interest rates. The president highlighted the recent drop in oil prices and called Powell a fool for not moving more aggressively. This is nothing new for this president, who has frequently browbeat the Fed, but the central bank was set up to be insulated from that kind of political pressure.

Not really. Trump was back on social media this morning criticizing the Fed for not lowering interest rates. The president highlighted the recent drop in oil prices and called Powell a fool for not moving more aggressively. This is nothing new for this president, who has frequently browbeat the Fed, but the central bank was set up to be insulated from that kind of political pressure.

Not really. Trump was back on social media this morning criticizing the Fed for not lowering interest rates. The president highlighted the recent drop in oil prices and called Powell a fool for not moving more aggressively. This is nothing new for this president, who has frequently browbeat the Fed, but the central bank was set up to be insulated from that kind of political pressure.

And it has a powerful ally in the stock market, which reacted very badly last month when Trump threatened to fire the Fed chairman. Trump has since backed off those threats. He will have a chance to replace Powell a year from now. But until then, the central bank has largely shrugged off kibitzing from the White House.

And it has a powerful ally in the stock market, which reacted very badly last month when Trump threatened to fire the Fed chairman. Trump has since backed off those threats. He will have a chance to replace Powell a year from now. But until then, the central bank has largely shrugged off kibitzing from the White House.

And it has a powerful ally in the stock market, which reacted very badly last month when Trump threatened to fire the Fed chairman. Trump has since backed off those threats. He will have a chance to replace Powell a year from now. But until then, the central bank has largely shrugged off kibitzing from the White House.

You're welcome.

You're welcome.