Federal Reserve Under Pressure: Trump's Influence and Political Turmoil

The Federal Reserve's two-day meeting is unfolding under unexpected political pressures. With Stephen Miran, a new appointee from the Trump administration, now part of the deliberations, the spotlight shifts to the President's influence over monetary policy.

This unexpected development follows efforts to dismiss Fed Governor Lisa Cook, a move temporarily blocked by federal court, allowing her participation this week. Trump's involvement, including pushing for Stephen Miran's board placement, underscores a bid to reshape Fed dynamics, even as the Supreme Court appeal looms.

Market responses remain muted, yet the Fed's focus remains on pressing financial indicators, with updated economic projections essential for setting the trajectory of interest rates amid rising unemployment concerns and inflation risks.

(With inputs from agencies.)