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Photo: Alex Wong/Getty Images

Two days before the Federal Reserve is expected to announce an interest rate hike, several critics, including the White House, are pushing the central bank to reconsider.

Why it matters: The comments are unlikely to move the needle on this week's rate decision, or arguably any future policy decisions, but they do reveal widespread skepticism of the Fed's plans for more aggressive policy next year.

What they're saying:

  • "Given recent economic and market developments, the Fed should cease—for now—its double-barreled blitz of higher interest rates and tighter liquidity," investor Stanley Druckenmiller, who once ran George Soros' hedge fund, and former Fed governor Kevin Warsh wrote in a Wall Street Journal op-ed.
  • White House adviser Peter Navarro told CNBC he thought the Fed was the "predominant factor" for recent stock market volatility. Navarro added that he thinks the only reason the Fed feels the need to raise rates is to "exert their independence."
  • President Trump said on Twitter Monday that he finds it "incredible" that the Fed is considering "yet another interest rate hike."

The bottom line: There's little the Fed can do on Wednesday that won't bring more criticism — whether it be about its political independence or an imminent policy mistake.

Go deeper

Updated 25 mins ago - Politics & Policy

Report: Pentagon watchdog finds Ronny Jackson drank on duty and harassed staff

Rep. Ronny Jackson walking through the Canon Tunnel to the U.S. Capitol in January. Photo: Stefani Reynolds/Getty Images

Rep. Ronny Jackson (R-Texas) allegedly made "sexual and denigrating" comments about a female staffer, drank alcohol and took sleeping medication while working as White House physician, according to an official report obtained by CNN Tuesday night.

Driving the news: The Department of Defense inspector general's report stems from a years-long investigation. Jackson has called the allegations "false and fabricated."

DOJ pressed to enforce Al Jazeera foreign agent ruling

Illustration: Aïda Amer/Axios

The Justice Department is being pressed to enforce its own demand that the U.S. arm of Qatari broadcaster Al Jazeera register as a foreign agent.

Why it matters: The launch of Al Jazeera's new right-of-center U.S. media venture, Rightly, has refocused attention on the media company's alleged links to Doha, and DOJ's efforts to crack down on media outlets viewed as foreign interest mouthpieces.

Poll: Immigration is America's most-polarizing issue

Data: The American Aspirations Index/Populace; Chart: Will Chase/Axios

Immigration was found to be the most polarizing issue in America based on new polling from Populace.

Why it matters: Americans have surprisingly similar priorities for the U.S., but immigration stands out as one of the few issues with clear partisan differences. It underscores the challenge for advocates and lawmakers hoping to pass immigration reform in the coming weeks amid narrow margins in Congress.