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Powell defends Fed’s ‘careful’ approach amid Trump insults, GOP pressure
- Jerome Powell, Federal Reserve Chair, stated that President Donald Trump’s tariffs will likely increase inflation in the coming months.
- Powell mentioned that the tariffs could cost hundreds of billions of dollars annually, impacting consumers.
- Most Federal Reserve officials support cutting rates this year but want to monitor inflation trends first.
- Most economists predict that Trump's tariffs will raise inflation to about 3% to 3.5% by the year's end.
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Powell defends Fed’s ‘careful’ approach amid Trump insults, GOP pressure
Federal Reserve Chair Jerome Powell on Wednesday defended the central bank’s reluctance to cut interest rates amid questions from Senate Republicans and a barrage of insults from President Trump. During an appearance before the Senate Banking Committee, the Fed chair brushed off pressure from GOP senators and accusations of political bias from across Washington as…
·Washington, United States
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Associated Press News+35 Reposted by 35 other sources
Fed's Powell repeats warning about tariffs as some GOP senators accuse him of bias
Federal Reserve Chair Jerome Powell said Wednesday that President Donald Trump’s sweeping tariffs will likely push up inflation in the coming months, even as some Republican senators suggested the chair was biased against the duties.
·United States
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Total News Sources37
Leaning Left8Leaning Right3Center25Last UpdatedBias Distribution69% Center
Bias Distribution
- 69% of the sources are Center
69% Center
L 22%
C 69%
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