Federal Reserve Chair Jerome Powell told Congress on June 24 that the central bank will hold interest rates steady as it watches how new tariffs affect the economy. This marks the fourth straight meeting where the Fed has kept its key rate at 4.25% to 4.50%. Powell explained that the Fed needs time to see how President Trump’s tariffs might push up prices. “For the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance,” Powell said during his testimony to the House Financial … Continue reading Federal Reserve Holds Rates at 4.5% as Powell Warns Tariffs Will Push Inflation to 3%