They see lowering rates that they believe would do a Keynesian infusion into the economy as a key to their Fall electoral prospects .

Warren pushes Fed Chair Powell to cut rates, ease housing pressure (cnbc.com) (https://www.cnbc.com/2024/01/29/warren-pushes-fed-chair-powell-to-cut-rates-ease-housing-pressure-.html)

As predicted ;the pressure on Fed Chair Jerome Powell will be enormous .

He spoke the end of last year ;without being specific ,about the possibility of a number of rate cuts (without saying how many and when they would start )

The last meeting of the Fed was disappointing to those who want to see easy money return.

But the inflation rate has not come down to the Fed's target of 2% . So far he is resisting the political pressure.

A strong jobs report complicates Jerome Powell's political dilemma as 2024 election nears (yahoo.com) (https://finance.yahoo.com/news/a-strong-jobs-report-complicates-jerome-powells-political-dilemma-as-2024-election-nears-160624123.html)



"We do not consider politics in our decisions, "We never do. And we never will. And I think the record — fortunately, the historical record really backs that up."

Jerome Powell: Full 2024 60 Minutes interview transcript - CBS News (https://www.cbsnews.com/news/full-transcript-fed-chair-jerome-powell-60-minutes-interview-economy/)

I agree with Powell . It takes time to beat inflation. Lowering rates too soon and too deep can destroy all the progress made.