In his speech on Wednesday (8 May), Powell said the tariff rises announced by the White House have so far been “significantly larger than anticipated”, with inflation still running “somewhat above our 2% longer-run objective”.
Uncertainty from Trump’s trade war pulls a break on May’s Fed rate cut as US growth prospects falter
He added that despite elevated levels of uncertainty, “the economy is still in a solid position”.
“The unemployment rate remains low, and the labour market is at or near maximum employment,” Powell said.
“In support of our goals, today the Federal Open Mar…
Read the full article here
