Reported 1 day ago
Federal Reserve Chair Jerome Powell has attributed the delays in interest rate cuts to the impact of tariffs, emphasizing that tariff increases have led to higher inflation forecasts. Despite a solid job market, with 147,000 jobs added in June, the Fed has maintained the borrowing rate at 4.25%-4.5% since December. Powell indicated that potential rate cuts could occur later this year if inflation eases, but currently, a rate cut in the upcoming meeting seems unlikely.
Source: YAHOO