Jerome Powell opposes the pressure of Donald Trump: Fed Chair tells the house panel ‘We are well positioned to wait’, says more economic clarity needed for tariff reduction – times of India

The chairman of the Federal Reserve Jerome Powell said that the central bank will maintain a cautious attitude of the interest rates and will wait more information before she is considering cuts – directly against the new requirements of President Donald Trump for immediate tariff reductions. “For the time being we are well positioned to wait to find out more about the likely course of the economy before we are considering adjustments to our policy position,” said Powell in prepared testimonials to be delivered on Tuesday for the House Financial Services Committee, AP reported. Powell’s comments come when he starts two days of potentially controversial hearings on Capitol Hill, where legislators will ask him questions about monetary policy, inflation and the economy – undermining political pressure. In a social media at the beginning of Tuesday, Trump again took Powell and wrote: ‘too late’ Jerome Powell, Van de Fed, will be in the congress today to explain, among other things, why he refuses to lower the rate. Europe has had 10 cuts, we have zero. No inflation, large economy, large economy, large economy, great economy would be to save the US. Negative, increase the rate.