Federal Reserve Chair Jerome Powell stated that the decision to maintain interest rates this year was influenced by President Trump’s tariffs, which have led to increased inflation forecasts. While tariffs have not yet significantly impacted the U.S. economy, Powell emphasized the need for the Fed to monitor their effects, asserting the importance of keeping central banking decisions free from political pressure.
Explain It To Me Like I’m 5: Federal Reserve Chair Jerome Powell said that the bank hasn’t lowered interest rates this year because of President Trump’s tariffs on other countries, which could affect prices in the future.
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