The Federal Reserve, the country's central bank, is facing a difficult choice right now.
Does it keep interest rates high to battle stubborn inflation?
Or does it lower interest rates in hopes of boosting a sluggish job market?
I always think of a soccer match where somebody's taking a penalty kick and the Fed is the goalie here and they have to decide are they going to dive to the left and address the risk of a weakening job market,
or they're going to dive to the right and address the risk of higher,
longer, more persistent inflation.
Tomorrow, Fed Chairman Jerome Powell will announce which way the Fed is going,
whether it will cut interest rates,
and if so, by how much, or whether it will hold them steady.
But our colleague Nick Timmerow says the factors at play aren't only economic.
The Fed's meeting this week comes after months of efforts by President Trump to reshape the Fed in his image.
It's taking place against a truly wild backdrop where the attendees at the meeting,
you have one Fed governor that President Trump has tried to remove.
You have a Trump advisor who is being hustled into the committee room by the Republicans in the Senate.
It's gone way beyond just Donald Trump yelling at Jay Powell towards the Trump administration actively trying to get into the building so that they can execute more influence on monetary policy.
Welcome to The Journal, our show about money, business, and power.
I'm Ryan Knudsen.
It's Tuesday, September 16th.
Coming up on the show, the future of interest rates and the future of the Fed.
Hi, Rodney Jane here from Bob Jane Team Arts.