Has The Fed Become Too Political? May Meeting Begins Today

After holding interest rates steady in March, the Federal Reserve is expected to do the same as they kick-off their May meeting today.

If you remember, there were 3 interest rate cuts at the end of last year, just in time for the election. But none so far this year, with many calling out the obvious. The Fed has become too political.

"It's amazing what a difference a president makes, whether it's a Republican or a Democrat seems to determine whether or not The Fed can weigh in on something, it's ridiculous" said EJ Antoni, economist with the Heritage Foundation.

It's ridiculous, but also reality, as investor and author Mitchell Feierstein noted on Newsmax.

"I don't think that they want to make rate cuts because The Fed has become extremely political. I think that they cut rates for political reasons in September, 50 basis points and they shouldn't have. I think that they should have waited until this year to cut rates.

With that said, Feierstein still believes there will be 3 rate cuts this year. But probably not today.

"I think the Fed's likely going to stay put, we're going to see that bear out from today's meeting" EJ Antoni told KTRH, "Unfortunately though, The Fed shouldn't be trying to set rates, The Fed should be following rates."

Following rates, and following the markets. Not the Dems agenda.