Chanticleer

This is what higher for longer looks like

Jerome Powell was careful not to mention the president by name, but his shadow is a big reason the US central bank is sitting on its hands.

Jan 30, 2025 – 9.00am

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Jerome Powell wouldn’t even say the T word.

After keeping US official interest rates on hold at between 4.25 per cent and 4.50 per cent on Wednesday night (Thursday AEDT), the Federal Reserve chairman fronted up to his usual post-decision press conference knowing that the very first question would be on US President Donald Trump’s demand for a rate cut.

James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine.