Fed Chair Jerome Powell Says Fed Won’t Rush to Cut Interest Rates

Federal Reserve Chairman Jerome Powell told a Senate Committee Tuesday that the Fed isn’t rushing to cut interest rates due to a strong job market and persistent inflation. Powell emphasized that further cuts depend on inflation cooling or a significant softening of the job market. The Fed faces uncertainty as President Trump’s tariff policies could raise prices and complicate efforts to lower interest rates. Powell refrained from commenting on the trade policy’s merits, leaving that for Congress and the administration to address.