Former Trump Economic Adviser Says Fed Should Hold Rates Steady

Current economic indicators present a complex landscape where strong stock market performance and job growth clash with persistent 3.5% inflation and declining consumer confidence. Stephen Moore, chairman of Unleashed Prosperity and former Trump advisor, argues against immediate interest rate cuts, suggesting that the Federal Reserve's 2% target remains elusive despite a $2,000 increase in real median household income over the last 18 months. While the U.S. maintains a robust investment climate compared to global peers, high oil prices near $80 a barrel and ongoing trade tensions with Canada pose significant risks ahead of the midterm elections. Potential relief could come from deregulating refining rules to lower gas prices by 30 cents per gallon or stabilizing the Strait of Hormuz. However, the long-term partnership with Venezuela to increase oil supply is unlikely to impact the economy before voters head to the polls.