Reported 1 day ago
Jerome Powell, the Federal Reserve Chair, has explicitly stated that the Fed will not intervene to stabilize markets or adjust interest rates in the near future, despite market volatility due to President Trump’s tariffs. During a recent event in Chicago, he dismissed speculation about a 'Fed put' for stocks, emphasizing the need for greater clarity before any rate adjustments, while signaling that the Fed prioritizes controlling inflation over reducing rates. This position has drawn criticism from Trump, who expressed his dissatisfaction with Powell's approach.
Source: YAHOO