Vance vs Fed on Rates | US News

Vice President JD Vance is pushing for the Fed to slash rates to revive the housing market, but that clashes with Fed Chair’s hint that hikes may be needed to battle stubborn inflation. Latest data shows annual inflation at 3.4%, down slightly but still high — core inflation sits at 2.5%. The Fed has held rates steady since December, pausing after cuts amid tariff-driven price pressures. Fed Governor Chris Waller says a September rate hike is possible if inflation surges again, while also signaling openness to holding steady if prices cool. Governor Michael Barr backs this stance, warning that if inflation doesn’t moderate enough, decisive action is warranted.

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