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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 mentioned considerations linger over the influence President Donald Trump’s tariffs can have on inflation.
“Coverage adjustments proceed to evolve, and their results on the financial system stay unsure,” he mentioned. Powell added that he and his Federal Open Market Committee colleagues are “effectively positioned to attend to be taught extra concerning the doubtless course of the financial system earlier than contemplating any changes to our coverage stance.”
Trump and different administration officers have chastised the Fed for not slicing charges. Referring to Powell, Trump known as on congressional leaders to work “this very dumb, hardheaded particular person, 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 charge regular, nonetheless sees two extra cuts this yr
Fed Governor Waller says central financial institution might minimize charges as early as July
Fed Governor Bowman favors July rate of interest minimize if inflation stays low
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