The White House wants the Fed to cut rates. Wall Street says it’s a terrible idea.

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  • Top White House brass, including President Donald Trump and Vice President Mike Pence, have recently called for the Federal Reserve to cut interest rates.
  • On Friday, Pence argued that the Fed should cut rates because inflation was low.
  • Earlier this week, at the Milken Institute Global Conference, some of the biggest names on Wall Street pushed back against the idea that the Fed should cut rates, saying inflation would pick up soon.
  • Visit Markets Insider's homepage for more stories.

The US economy is on fire.

Last week, the Commerce Department said gross domestic product grew at an annualized rate of 3.2% in the first quarter. And the good news kept coming Friday, with the the Labor Department announcing that US nonfarm payrolls added 263,000 jobs in April, pushing the unemployment rate down to 3.6%, its lowest level since December 1969. See the rest of the story at Business Insider

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