💨 Abstract

The article discusses Federal Reserve Chair Jerome Powell's decision to maintain the key interest rate while assessing the impact of President Donald Trump's tariffs on the U.S. economy. Powell anticipates inflation to rise later in the summer but remains uncertain about the timing and extent of the increase. Despite criticism from the White House, Powell believes it is prudent to wait and observe economic developments. Trump has been vocal about his disapproval, targeting Powell and the entire Fed governing board for not lowering rates.

Courtesy: WTOP Staff