Jerome H. Powell, chair of the Federal Reserve, emphasized the importance of assessing the “net effect” of President Trump’s economic agenda amidst uncertainty, stating the central bank is not rushing to adjust interest rates. Powell highlighted the need for clarity in the evolving economic outlook, mentioning the possibility of maintaining policy restraint longer if inflation remains sticky but the economy stays strong. Despite concerns about potential impacts of Trump’s tariffs and other policies, Fed officials are cautious about lowering rates until seeing evidence of inflation moving back down or unexpected weakening in the labor market.
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