Jerome Powell says central bank is waiting to see tariffs’ impact on US prices as president claims ‘incompetence’
The Federal Reserve is well placed to wait and see how tariffs impact US prices before cutting interest rates, its chair, Jerome Powell, insisted, defying renewed demands from Donald Trump.
The US president has disregarded the central bank’s longstanding independence to repeatedly call for rate cuts to spur economic growth and launch a series of personal attacks on Powell.