Powell says tariff inflation 'could be more persistent' as Trump urges him to cut rates
Federal Reserve Chair Jerome Powell on Friday appeared to back away from a "base case" view that inflation from President Trump's new tariffs could be transitory, saying that "it is also possible that the effects could be more persistent” as the economy digests "significantly larger-than-expected" trade duties.
Trump, at the same time, turned up the pressure on Powell, calling on him to lower rates.
"This would be a PERFECT time for Fed Chairman Jerome Powell to cut Interest Rates. He is always ‘late,’ but he could now change his image, and quickly," Trump posted on social media, adding, "CUT INTEREST RATES, JEROME, AND STOP PLAYING POLITICS!"
Powell made it clear during his remarks at an event in Arlington, Va., that the Fed isn't in a hurry to take any action on rates due to many uncertainties, saying, "It is too soon to say what will be the appropriate path for monetary policy."
https://finance.yahoo.com/news/powell-says-tariff-inflation-could-be-more-persistent-as-trump-urges-him-to-cut-rates-152503593.html
Trump always want others to clean up his mess.
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