Jerome Powell news conference as Fed leaves key rate unchanged

Описание: Federal Reserve chair Jerome Powell holds a news conference after the Fed decided to leave its key short-term interest rate unchanged.

The Fed's decision leaves its key short-term rate at about 4.3%, where it has stood after the central bank made three cuts last year. Powell has said the Fed would likely have cut rates already if not for President Donald Trump's sweeping tariffs. Powell and other Fed officials say they want to see how Trump's duties on imports will impact inflation and the broader economy. So far the duties have lifted costs of some goods, such as appliances, furniture, and toys, and overall inflation has risen a bit, though less than many economists had expected.

The choice to hold off on a rate cut will almost certainly result in further conflict between the Fed and White House, as Trump has repeatedly demanded that the central bank reduce borrowing costs as part of his effort to assert control over one of the few remaining independent federal agencies.

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