On Wednesday, CNBC posted an article about the Federal Reserve’s decision not to raise interest rates at this time.

The article reports:

The Federal Reserve held steady on rates at the conclusion of its October meeting, maintaining its target range of 3.75% to 4%.

Two members of the Federal Open Market Committee dissented from the decision: Governor Lisa Cook and Cleveland Fed President Beth Hammack were in favor of raising rates by a quarter percentage point.

Fed Chairman Kevin Warsh announced that the central bank will reduce the number of rate-setting meetings starting in 2027, noting that while eight meetings per year is “the right number” for the FOMC, one of them will focus exclusively on broad monetary policy strategy starting in 2027. The remainder will be policy-setting meetings.

In 2028, the Fed will plan to host two meetings focused on strategy discussions and the remaining six will be centered on policy setting, Warsh said.

Unfortunately, like a lot of other things, the Federal Reserve has been politicized in recent years. Although inflation is not where the Federal Reserve would like it to be, the current rate of inflation has a lot to do with the price of gasoline and the war in Iran, which should end shortly one way or another. Raising rates right now would slow down economic growth, something that is not needed at this time.

The economic numbers for the past two years show a slow recovery from the economic mess that was the Biden administration. Unfortunately, prices never seem to go down after inflation slows, but the Trump administration has significantly slowed the rate of inflation. Many economic experts expect the next year to have strong economic growth. Raising interest rates now might negatively impact that growth. I firmly believe that there are still people in our government who would sacrifice the good of the country rather than see a successful Trump Presidency.