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Federal Reserve Chair Jerome Powell returned Wednesday at Capitol Hill. This time, I will speak to the Senate Banking Committee as part of my six-month monetary policy testimony.
In his remarks Tuesday before the House Financial Services Committee, the central bank leader argued that the Fed is “well positioned to wait” for interest rate policies to monitor the impact of tariffs on inflation.
If the job had a long-term impact on prices, Powell said the Fed would likely be more hesitant to cut interest rates further. However, if the rise is a one-off move, he would be comfortable mitigating later that year, but he did not identify a meeting on when the reduction could occur.
Powell further argued that President Donald Trump’s repeated demands for interest rate cuts have not affected the Fed’s policies.
read more:
This week, Federal Reserve Chair Powell speaks at the political frontline and center at Capitol Hill.
Fed has stabilized the key rate and is seeing two more cuts this year
There are three reasons why tariffs aren’t making inflation higher yet
