Jerome Powell Says Trump's Tariffs Deterred Fed From Easing Monetary Policy—July Decision To Depend On 'Data': 'Wouldn't Take Any Meeting Off The Table'

Jerome Powell, Chair of the Federal Reserve, stated that Trump's tariffs have hindered the Fed from easing monetary policy, suggesting that rate cuts would have been likely without the tariffs. During a panel discussion, he noted that inflation forecasts rose due to the tariffs, leading the Fed to maintain interest rates. Powell indicated that future decisions would depend on evolving data, amidst increasing pressure from the White House and criticism from Trump regarding interest rates. Speculation about Powell's position continues as the President seeks changes in the Fed's leadership.