Former Reagan advisor Steve Hanke has expressed concerns over the Federal Reserve's monetary policy and its impact on the US economy. Speaking ahead of the Federal Open Market Committee (FOMC) meeting, Hanke noted that the Fed is expected to maintain current interest rates due to persistent inflation. He criticized the growing policy uncertainty, which he believes is distorting US economic priorities and affecting global confidence in US leadership. Hanke also highlighted the political pressure from the Trump administration for rate cuts, which he argues is contributing to a looser monetary policy. Despite this pressure, Hanke believes the Fed will resist, especially in light of recent criminal probes into Fed officials. He also pointed out the broader implications of US trade policies, noting that increased resistance from global trading partners is weakening US influence and could impact the dollar's strength.