President Trump says he doesn’t plan to fire Federal Reserve Chairman Powell, but the calls for rate cuts continue. The central bank, however, is expected to leave rates unchanged at the next month’s policy meeting. For the moment, it’s still a battle of the unstoppable force vs. the immovable object.
Daily Archives: April 24, 2025
Macro Briefing: 24 April 2025
US economic activity continues to slow in April, according to PMI survey data. Output rose last month at its slowest pace since Dec 2023 via the US Composite Output Index, a GDP proxy. “The early flash PMI data for April point to a marked slowing of business activity growth at the start of the second quarter, accompanied by a slump in optimism about the outlook,” said Chris Williamson, chief business economist at S&P Global Market Intelligence, which published the report. “At the same time, price pressures intensified, creating a headache for a central bank which is coming under increasing pressure to shore up a weakening economy just as inflation looks set to rise.”
