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Federal Reserve Chair Jerome Powell delivers his semiannual financial coverage testimony to congressional leaders, beginning Tuesday with an look earlier than the Home Monetary Companies Committee.
In prepared remarks, Powell famous the “strong” situation of the U.S. economic system however stated considerations linger over the impression President Donald Trump’s tariffs could have on inflation.
“Coverage modifications proceed to evolve, and their results on the economic system stay unsure,” he stated. Powell added that he and his Federal Open Market Committee colleagues are “effectively positioned to attend to study extra in regards to the probably course of the economic system earlier than contemplating any changes to our coverage stance.”
President Donald Trump and different administration officers have chastised the Fed for not reducing charges. Referring to Powell, Trump referred to as on congressional leaders to work “this very dumb, hardheaded particular person, over” in a Fact Social submit early Tuesday.
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