Powell to Speak as Trump Struggles to Balance Tax Cuts with Deficit Promises
Fed Chair Jerome Powell will speak at a Federal Reserve anniversary event today as President Trump faces growing pressure over his tax cut plans.
The House-approved tax and spending cuts could add $5.1 trillion to the national debt over ten years, according to fiscal watchdogs.
This creates a conflict with Trump’s promise to reduce deficits. The president must now convince Republican senators, global investors, and advisors like Elon Musk that the tax cuts won’t balloon government debt.
Financial markets remain skeptical, doubting the administration can deliver both aggressive tax cuts and fiscal responsibility.
