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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 Companies Committee.
In ready remarks, Powell famous the “strong” situation of the U.S. economic system however stated issues linger over the affect President Donald Trump’s tariffs may have on inflation.
“Coverage modifications proceed to evolve, and their results on the economic 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 economic system earlier than contemplating any changes to our coverage stance.”
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 particular person, over” in a Fact Social put up 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 minimize charges as early as July
Fed Governor Bowman favors July rate of interest minimize if inflation stays low
