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President Trump posted to Truth Social calling for an immediate cut to interest rates moments before Federal Reserve Chair Jerome Powell spoke in Arlington, Virginia, Friday
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Powell suggested Trump's tariffs were higher than expected and could lead to higher inflation and slow economic growth
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While uncertainty remains elevated, it is now becoming clear that tariff increases will be significantly larger than expected
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And the same is likely to be true of the economic effects, which will include higher inflation and slower growth
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Speaking to business journalists, Powell acknowledged the strength of the U.S. economy, saying the economy is in a good place, pointing to labor market data
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But he largely made note of uncertainty as substantial changes are happening in U.S. policy under the Trump administration as it relates to immigration, trade, fiscal policy and regulation
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The Fed is taking a wait and see approach on how the changes work out with Powell saying the Fed is well to wait for greater clarity before making any rate changes Powell comments came
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moments after Trump took to Truth Social, calling for immediate rate reductions, saying this would
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be a perfect time for Powell to cut interest rates. Energy prices are down, interest rates are down
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inflation is down, even eggs are down 69 percent, and jobs are up, all within two months
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a big win for America. Cut interest rates, Jerome, and stop playing politics
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Last month, the Fed kept interest rates unchanged. Central bankers are scheduled to meet again
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in early May. Straight Arrow News has been following Trump's tariffs closely this week
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from immediate impacts to global reaction and what comes next. You can find our continuing coverage by downloading the Straight Arrow News app
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or by visiting us online at san.com
