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The Fed chair will tell lawmakers that the central bank can wait to see how President Trump’s tariffs affect the economy before lowering borrowing costs.
By Colby Smith
Jerome H. Powell, chair of the Federal Reserve, said central bank officials could afford to be patient before cutting interest rates as they wait to see how President Trump’s policies, including tariffs, affect inflation and the labor market.
In remarks prepared for delivery to the House on Tuesday morning, Mr. Powell said that the Fed was in no rush to lower borrowing costs given the labor market remains solid and inflation remains “somewhat elevated.”
