We know what happens to people who stay in the middle of the road. They get run down. - Aneurin Bevan
Jay Powell probably knew that after cutting rates by one-quarter point to a 1.75-2.0% range and sending mixed signals, he would be taken to the cleaners. He wasn't wrong. President Trump unloaded instantly, calling him a failure and a terrible communicator without sense or vision. The savers were angry, business folks unhappy, and equity investors unenthused.
A politically nudged Powell had good reason to be hesitant. The Fed typically cuts rates to stimulate a