Silver Rises Over 120% YTD 
Federal Reserve officials continue resisting pressure to lower interest rates, despite President Trump’s demands and his call for Fed Chair Powell’s “termination.” New York Fed President John Williams stated clearly that he sees no need to adjust rates soon.
Trump, who appointed Powell in 2017 but quickly began criticizing him, has economic advisers who say Powell will complete his term ending May 2026. However, Trump’s unpredictable approach has Wall Street concerned, especially with a Supreme Court case that could potentially allow presidents to fire independent agency commissioners.
Fed officials remain focused on inflation concerns. Williams acknowledged a likely inflation burst this year but emphasized preventing temporary price increases from becoming persistent. While market derivatives suggest traders expect four rate cuts in 2025, Williams noted that options trading points to expectations of only one or two cuts.
