Powell Reiterates: Fed Will Wait for More Data Before Cutting Rates

Federal Reserve Chairman Jerome Powell listens during an open meeting of the Board of Governors at the Federal Reserve, June 25, 2025, in Washington. (Mark Schiefelbein/AP)

Tuesday, 01 July 2025 10:14 AM EDT ET

U.S. Federal Reserve chair Jerome Powell reiterated the U.S. central bank plans to "wait and learn more" about the impact of tariffs on inflation before lowering interest rates, again setting aside President Donald Trump's demands for immediate and deep rate cuts.

"We're simply taking some time," Powell said at a central bank gathering in Portugal, a day after Trump sent him a handwritten missive noting how low other central banks had cut rates and suggesting the U.S. needed to move.

"As long as the U.S. economy is in solid shape, we think that the prudent thing to do is to wait and learn more and see what those effects might be," Powell continued.

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U.S. Federal Reserve chair Jerome Powell reiterated the U.S. central bank plans to "wait and learn more" about the impact of tariffs on inflation before lowering interest rates, again setting aside President Donald Trump's demands for immediate and deep rate cuts.
jerome powell, federal, reserve, interest, rates, tariffs, trump
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Tuesday, 01 July 2025 10:14 AM
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