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Powell: Fed Not Need to Trim Rates Further in a Hurry
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Federal Reserve Chairman Jerome Powell, speaking before the U.S. Senate Banking Committee on Tuesday, reiterated the central bank's determination to reduce inflation and hinted that the central bank is not in a rush to trim interest rates. Powell said that the U.S. economy as a whole is strong, the labor market is healthy, and inflation is tapering off but still above the Fed's 2% target, so the Fed does not need to rush to further adjust interest rates. He also remarked that it is now premature to assess the impact of US President Donald Trump's tariffs. AAStocks Financial News |
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