Federal Reserve Chairman Jerome Powell told a Senate Committee Tuesday that the Fed isn’t rushing to cut interest rates due to a strong job market and persistent inflation. Powell emphasized that further cuts depend on inflation cooling or a significant softening of the job market. The Fed faces uncertainty as President Trump’s tariff policies could raise prices and complicate efforts to lower interest rates. Powell refrained from commenting on the trade policy’s merits, leaving that for Congress and the administration to address.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Federal Reserve Chairman Jerome Powell told a Senate committee Tuesday that the Fed isn't
00:06rushing to cut interest rates due to a strong job market and persistent inflation.
00:11Powell emphasized the further cuts depend on inflation cooling or a significant softening
00:15of the job market. The Fed faces uncertainty as President Trump's tariff policies could raise
00:20prices and complicate efforts to lower interest rates. Powell refrained from commenting on the
00:25trade policy's merits, leaving that for Congress and the administration to address.
00:30For all things money, visit Benzinga.com slash GSTV.