00:00Federal Reserve Chair Jerome Powell said the Fed would likely have eased interest rates by now if
00:05it weren't for President Trump's tariff plan. Powell explained that when tariffs were announced,
00:10inflation forecasts went up materially, leading the Fed to hold steady rather than reduce the
00:15cost of borrowing. Powell emphasized that future decisions will be data-dependent and made meeting
00:22by meeting, not bound to any specific date. Markets are now pricing in a greater than 76%
00:28chance of no move at July's meeting, though the Fed's dot plot indicates up to two cuts by the end of the year.
Comments