Speaking to the House Financial Services Committee, Powell said interest rates will stay put until Fed officials better understand the impact of tariffs on the economy.
“The economy is in a lot of flux, policy is in flux, there’s a lot of uncertainty. I think we’ll have to wait three to six months to start to see where this settles out.”
Referring to yesterday’s inflation report and calling the Fed chair “Too Late Powell,” the president said on social media that waiting to understand tariffs’ effect on prices is “not fair to America.”
Although U.S. interest rates are sitting at 23-year highs, the pockets of pain they are causing are nothing like the systemic problems that so often wrecked expansions in the past.
