Reported 1 day ago
Federal Reserve Chair Jerome Powell decided to keep interest rates steady during Wednesday's meeting, despite pressure from President Trump for significant cuts. Powell emphasized the need for caution due to numerous unknowns regarding Trump's economic policies, including potential tariffs and their impacts on inflation and consumer prices. While the Fed acknowledged a stabilizing job market and slight improvements in inflation metrics, Powell reiterated the independence of the central bank, stating they will focus on achieving their goals without external political influence.
Source: YAHOO