Jon Siegel told Erik Sherman at GlobeSt on November 8, 2024, that Powell's data-driven decisions should see interest rates continuing to ease in the short term but that Trump's proposed policies could drive more inflation longer term.
"I would expect Trump's election to be a bad thing for those who are rooting for interest rate cuts," Jon Siegel, co-founder and chief investment officer for Railfield Partners, told GlobeSt.com. "Powell says that their decisions are data driven and so I would expect them to continue on their current path of easing rates in the short term, but Trump's proposed policies could drive more inflation and so I would expect the fed to be more hawkish on rates in the long run."