Fed chief Powell signals no rush to cut interest rates
US Federal Reserve chief Jerome Powell told lawmakers the central bank is in no rush to lower interest rates as officials wait for more clarity on the economic impact of President Donald Trump's tariffs.
Should inflation come in weaker than expected or the labour market deteriorate, he said, the Fed could cut rates sooner.
Equally, he added, higher-than-expected inflation could push the Fed to keep holding. The central bank's on-hold position has angered Trump, who has consistently called for lower rates and argued the Fed is keeping borrowing costs for the US govt high by holding rates steady.
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