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Fed holds policy steady, cites tariff uncertainty as key reason to wait on cuts
Summary
Federal Reserve Chair Jerome H. Powell told the House Financial Services Committee the FOMC is keeping the federal funds rate at 4.25%–4.5% and is delaying cuts until the size and persistence of tariff‑related price effects become clearer.
Federal Reserve Chair Jerome H. Powell told the House Financial Services Committee on Wednesday that the Federal Open Market Committee is maintaining its target range for the federal funds rate at 4.25% to 4.5% and is delaying any decision to cut until there is clearer evidence on the inflationary effects of recent tariff actions.
“We will continue to determine the appropriate stance of monetary policy based on the incoming data, the evolving outlook, and the balance of risks,” Powell said in his opening remarks, adding that while “inflation has come down a great deal,” it still remains somewhat above the Fed’s 2% objective.
Powell said incoming price data and business…
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