Tyler Schipper, an economist and associate professor in the College of Arts and Sciences at the University of St. Thomas, recently discussed the Federal Reserve on WCCO Radio. He explained why interest rates aren’t changing with recent economic reports.
From the interview:
The board of governors decided to not reduce interest rates. However, there were two members of the voting body who disagreed. The last time that happened was 1993.
“It is very intriguing I would say. It is very rare for members of the board of governors to vote in opposition to the chair,” said Schipper.
“It is important to remember that the Federal Reserve has two goals. They do want the economy to grow, but they need to worry about prices and inflation. Right now, they are being cautions because of tariffs. The median member of the board believes we will see increased prices following tariffs,” said Schipper.
