Fed Chair Powell says he would've cut rates already if not for Trump's tariffs

Jul 1 2025 by Business Insider

 

Reuters

Fed Chair Jerome Powell says tariffs have prevented the rate cuts President Trump badly wants.The Fed remains in wait-and-see mode as it updates its inflation and economic outlook.Markets anticipate two rate cuts this year, but some predict no cuts at all.

Fed Chair Jerome Powell effectively told President Trump on Tuesday that he's his own worst enemy in his crusade for rate cuts.

He was speaking specifically about the tariffs Trump has announced and implemented, blaming them for the...

Continue Reading Fed Chair Powell says he would've cut rates already if not for Trump's tariffs