With Fed under pressure, Jerome Powell prepares for a high-stakes speech

['Scott Horsley', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar', 'Vertical-Align Middle .Wp-Block-Co-Authors-Plus-Avatar Is .Alignleft .Alignright'] TPR: The Public's Radio 2025-08-21 17:27:32

The speech comes as the central bank is under mounting pressure from the White House to lower interest rates. The speech comes as the central bank is under mounting pressure from the White House to lower interest rates. After cutting its benchmark rate by a full percentage point last year, the Fed has held interest rates steady since December. Fed independence under attackFighting inflation often requires the Fed to make unpopular decisions, like raising interest rates, so the central bank was designed to be insulated from political pressure. “Having an independent central bank has been an institutional arrangement that has served the public well,” Powell said last month.