CNBC Daily Open: Investors look away from the Trump administration's call to relook the Fed

4 days ago 6

Jerome Powell, head of the U.S. Federal Reserve, and U.S. Treasury Secretary Scott Bessent (r) at a meeting of the G7 finance ministers and central bank governors.

Kay Nietfeld | Picture Alliance | Getty Images

With the job market currently being rough for many — in no small part because of artificial intelligence — it may be tempting to enroll in graduate school in the hopes of securing a better job eventually.

Don't do it. That is, if you have dreams of working at America's central bank.

U.S. Secretary of Treasury Scott Bessent on Monday questioned the Federal Reserve's decision not to lower interest rates this year so far, given that the U.S. has "seen very little, if any, inflation."

"I think this idea of them not being able to break out of a certain mindset," Bessent said, referring to Fed officials. "All these Ph.D.s over there, I don't know what they do."

The headline number for June's consumer price index was the highest since February.

While navigating the job market has been a challenge regardless of qualifications, the stock market seems to be on a smooth path upward regardless of challenges.

The S&P 500 broke the 6,300 closing level for the first time on Monday. That's despite the Trump administration's beef with the Fed and its use of heavy tariffs as a bargaining tool.

Under those circumstances, an investor doesn't need a Ph.D. to know that volatility in markets could lie ahead despite the positive sentiment today.