Insignia Consultants | Fed in no rush to cut rates amid high uncertainty about Trump tariffs
Fed in no rush to cut rates amid high uncertainty about Trump tariffs
WASHINGTON, March 19 (Reuters) - The Trump administration's initial policies, including extensive import tariffs, appear to have tilted the U.S. economy toward slower growth and at least temporarily higher inflation, Federal Reserve Chair Jerome Powell said on Wednesday, with central bank policymakers left guessing over what lies ahead during a period of "unusually elevated" uncertainty.
With overall sentiment sliding due to policy "turmoil," prices are projected to rise faster than expected at least in part and perhaps largely because of President Donald Trump's plans to levy duties on imports from U.S. trading partners, Powell said after the Fed announced it had held its benchmark overnight rate steady in the 4.25%-4.50% range.
