WASHINGTON, D.C. — Higher tariffs could begin raising inflation this summer, a period that will be key to Federal Reserve (Fed) consideration of possible rate cuts, Fed Chairman Jerome Powell told members of Congress on Tuesday.
WASHINGTON, D.C. — Higher tariffs could begin raising inflation this summer, a period that will be key to Federal Reserve consideration of possible rate cuts, Fed Chairman Jerome Powell told members of Congress on Tuesday.
”“I think if it turns out that inflation pressures remain contained, we will get to a place where we cut rates sooner than later,” he said.With the central bank largely sidelined waiting for the outcome of the Trump administration’s tariff negotiations, Powell was quizzed repeatedly about why the central bank seemed preoccupied with that issue and isn’t cutting rates given that inflation so far has been modest.
Again Says Rate Cuts Can Wait Given Inflation Risks
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump knocks Fed’s Powell, muses about appointing himself to lead central bankLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Fed keeps rates steady, expects higher inflationWASHINGTON — The US central bank held interest rates steady on Wednesday and policymakers signaled borrowing costs were still likely to fall in 2025, but Federal Reserve Chairman Jerome Powell cautioned against putting too much weight on that view and said he expects 'meaningful' inflation ahead as consumers pay more for goods due to the Trump...
Read more »
Higher sales, lower expenses boost Vista Land's Q1 profitVista Land & Lifescapes Inc., of richest Filipino Manuel B. Villar Jr., posted a five percent improvement in net income to ₱3.4 billion in the first quarter...
Read more »
Marcos admin posts ₱67.3-billion budget surplus in April on higher tax collectionsThe national government recorded a budget surplus of ₱67.3 billion in April, marking a 57.5 percent jump from the same month last year, as tax collections...
Read more »
Washington Post offers buyout to veteran staffersThe Washington Post is offering voluntary buyouts to selected staffers as part of its newsroom transformation plan, according to a post on X by Ben Mullin
Read more »
US firms plan to pass Trump tariff costs to consumers—Fed minutesWashington, United States—US firms have warned the Federal Reserve that the cost of President Donald Trump's tariffs will likely be borne by consumers,
Read more »