In his FOMC speech earlier on May 7, US Federal Reserve Chair Jerome Powell pointed to President Donald Trump’s tariff policy as a major reason inflation pressures are not easing as quickly as hoped. In his latest comments, Powell signaled that the central bank’s decision to hold interest rates steady is directly tied to the uncertainty surrounding Trump’s aggressive trade actions.
Federal Reserve Chair Jerome Powell on Rate Cut Hold Back
According to insiders and financial analysts following the Federal Reserve’s decision closely, Powell’s tone during the post-meeting briefing was cautious.
Reports indicated that the central bank left interest rates unchanged for the third time this year. Issuing an FOMC statement, officials held the federal funds rate at 4.25% to 4.5%. The Fed Chair gave rare insight into the deeper concerns troubling the committee.
Jerome Powell explained that the Federal Reserve could not lower rates now, even though the economy is slowing. Inflation i
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