March 20, 2025 1:11 PM
Fed in no rush to cut rates; Trump disagrees
The Trump administration's initial policies, including extensive import tariffs, appear to have tilted the U.S. economy toward slower growth and at least temporarily higher inflation, Federal Reserve Chair Jerome Powell said on Wednesday, drawing the ire of President Donald Trump. Trump posted late on Wednesday on his Truth Social platform: "The Fed would be MUCH better off CUTTING RATES as U.S. Tariffs start to transition (ease!) their way into the economy. Do the right thing." Earlier, i...