Powell: Tariffs bring uncertainty, delaying rate cuts
2025-07-01 15:55:25
On July 1 local time, Federal Reserve Chairperson Powell said at a meeting in Sintra, Portugal that if it were not for US President Trump's tariff policy, the Federal Reserve would start cutting interest rates in 2025 and would now adopt a looser monetary policy. When asked whether the uncertainty caused by the current tariff regime of the US government has caused the Federal Reserve to delay cutting interest rates, Powell gave a positive answer, adding that almost all forecasts for US inflation are rising sharply due to the impact of tariffs. Powell admitted that despite the increasing pressure from the US government, the Federal Reserve is still in the mode of maintaining interest rates. Powell also said that, given the precarious nature of the current economic outlook, the Federal Reserve is still watching the situation to learn more.
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