Jerome Powell says inflationary impact of the president’s trade policies needs to be assessed before borrowing costs can be reduced
The chair of the Federal Reserve, Jerome Powell, has blamed Donald Trump’s tariffs for preventing the immediate interest rate cuts the president has demanded.
Trump has repeatedly urged Powell to reduce borrowing costs in the US economy. On Tuesday, he said: “Anybody would be better than J Powell. He’s costing us a fortune because he keeps the rate way up.”
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