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Federal Reserve Chair Jerome Powell delivers his semiannual financial coverage testimony to congressional leaders, beginning Tuesday with an look earlier than the Home Monetary Providers Committee.
In ready remarks, Powell famous the “stable” situation of the U.S. financial system however stated considerations linger over the impression President Donald Trump’s tariffs could have on inflation.
“Coverage modifications proceed to evolve, and their results on the financial system stay unsure,” he stated. Powell added that he and his Federal Open Market Committee colleagues are “properly positioned to attend to be taught extra concerning the possible course of the financial system earlier than contemplating any changes to our coverage stance.”
President Donald Trump and different administration officers have chastised the Fed for not chopping charges. Referring to Powell, Trump known as on congressional leaders to work “this very dumb, hardheaded individual, over” in a Fact Social publish early Tuesday.
Learn extra:
Fed Chair Powell speaks on Capitol Hill this week with politics entrance and middle
Fed holds key price regular, nonetheless sees two extra cuts this yr
Fed Governor Waller says central financial institution may reduce charges as early as July
Fed Governor Bowman favors July rate of interest reduce if inflation stays low
