That’s true 

The media is already questioning the 2 percent target. 

https://time.com/6548908/inflation-target-federal-reserve-essay/


I agree with half of what you said. No way he raises rates before the election. However, I can see him making the case that 2 1/2 or 2  3/4% inflation is close enough for a rate cut. The media will give him cover. 

siggy47

The Federal Reserve is supposed to leave interest rates unchanged during an election year.

Powell created a loophole in December by saying we expect 6 rate reductions in 2024.

Until “inflation” hits 2 percent, Powell cannot lower rates.

He will only increase rates if he is feeling “suicidal”

econ

Fed: Are we on the verge of a rate hike?

GhostofTruth

Which is why it won’t happen 

The Federal Reserve is supposed to leave interest rates unchanged during an election year. 

Powell created a loophole in December by saying we expect 6 rate reductions in 2024. 

Until “inflation” hits 2 percent, Powell cannot lower rates. 

He will only increase rates if he is feeling “suicidal”
