Jerome Powell, chairman of the US Reserve, attested during a hearing from the Financial Service Committee of the House Financial Services on “the half-year monetary political report of the Federal Reserve” on the Capitol Hill in Washington, DC, on June 24, 2025.
Saul Loeb | AFP | Getty pictures
The chairman of the Federal Reserve, Jerome Powell, said on Tuesday that the US Central Bank would now have a slight monetary policy, unless President Donald Trump's tariff plan.
When asked whether the Fed would have reduced interest rates again, Trump would not have announced his controversial plan for taxes for many foreign trading partners at the beginning of this year, said Powell: “I think that's right.”
“In fact, we went to the queue when we saw that the size of the tariffs and essentially all inflation forecasts for the United States as a result of the tariffs,” added Powell at the event, which took place during a European central bank forum in Sintra, Portugal.
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