Federal Reserve Chair Jerome Powell said, ‘We’re in a pretty good place with this economy,’ stressing the need for more inflation progress before reducing rates
Federal Reserve Chair Jerome Powell spoke at the Senate Banking Committee yesterday and told the panel that the Fed sees no urgency in cutting interest rates again.
“We’re in a pretty good place with this economy,” he said, stressing the need for more inflation progress before reducing rates.
He showed concern over rising budget deficits and encouraged lawmakers to reduce them. He also indicated that it’s “possible” Trump tariffs would worsen inflation.
He also added that the central bank will not develop its own digital currency as long as he is in charge.