New York Times
September 18, 2025
HKS Authors
See citation below for complete author information.
Frank and Denie Weil Director of the Mossavar-Rahmani Center for Business and Government (on leave)
Charles W. Eliot University Professor
Aetna Professor of the Practice of Economic Policy
Abstract
The Federal Reserve met this week and the least interesting thing it did was cut interest rates. This may rank as one of the oddest meetings in recent memory. It’s the first since the president tried to fire a Fed governor, Lisa Cook. It featured the first appearance by a Trump-appointed governor, Stephen Miran. And it’s the latest test for the chairman, Jerome Powell, who is facing attacks from the president, an array of contradictory economic signals and a very public contest to succeed him. Stepping way back, what is your one big takeaway?
Citation
Patterson, Rebecca, Matthew Rose, Oren Cass, Jason Furman, and Lawrence H. Summers. "‘No One Should Be Very Confident’: Four Economists Dissect Trump and the Economy." New York Times, September 18, 2025.