According to those in the know, Federal Reserve Chairman Jerome “Too Late” Powell “huffed ‘Panican’ glue” Wednesday morning.

That can be the only reason why this man refused to cut interest rates—AGAIN.

This from townhall.com.

Powell and President Trump have been engaged in a lengthy DC battle, as the Trump administration attempted to have the Federal Reserve cut the rates this time around. The economic report was stellar: three percent growth in the second quarter, low inflation, and consumer confidence has rebounded. What is this man waiting for (via CNBC):

The Federal Open Market Committee, the group that sets the overnight borrowing rate, voted 9-2 to stay on hold. The federal funds rate will continue to be set in a range between 4.25%-4.5%. The level sets what banks charge each other for overnight lending, but influences a slew of other rates across the economy.

However, the decision met opposition from Governors Michelle Bowman and Christopher Waller, both of whom have advocated for the Fed to start easing in acknowledgement that inflation is under control and the labor market could start weakening soon. This was the first time since late 1993 that multiple governors cast no votes on a rate decision.

[…]

At the June meeting, the committee had a more optimistic view, saying the economy ‘continued to expand at a solid pace.’

The Wednesday statement said uncertainty about conditions ‘remains elevated,’ also a less upbeat assessment from June, which noted that uncertainty had “diminished but remains elevated.”

Powell said inflation was still giving him heartburn; “a classic Panican line peddled since April.” He masquerades his “heartburn” by blaming Trump’s tariffs, which have not worsened inflation. In fact, inflation has not wrecked the economy—inflation is down. The Trump Plan has led to epic trade deals and renegotiations of existing ones.

Cut the damn rates, you fool.