Fed Officials Stick to Cautious Message on Rate Cuts Despite Pressure From Trump
Jerome H. Powell, chair of the Federal Reserve, has made clear that pre-emptive interest rate cuts are not appropriate for the moment.
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Jerome H. Powell, chair of the Federal Reserve, has made clear that pre-emptive interest rate cuts are not appropriate for the moment.
President Trump has said his punishing tariffs would force companies to build factories in the United States. But it is far from clear that they will have the effects he predicted.
The president said he has “no intention” of ousting Jerome H. Powell, the Fed chair, but the administration’s willingness to challenge norms regarding the central bank’s political independence is causing concern.
Christopher J. Waller argued that the effect of tariffs on prices could be short-lived, but he warned about a bigger hit to growth.
The central bank’s outreach to companies has taken on new significance as the outlook for growth and inflation gets cloudier.
The Federal Reserve’s preferred inflation measure showed underlying price pressures persisting in February.
Economists are bracing for intensifying price pressures and slower growth, posing a challenge for the Federal Reserve.
Jerome H. Powell says the Fed is focused on separating “signal from the noise,” as the president whipsaws on tariffs.
A directive calling for oversight over the central bank’s regulatory and supervisory responsibilities has set off alarm.
Top officials are grappling with how to handle potential price increases caused by the administration’s policies.