Site last updated: Wednesday, July 16, 2025
Welcome, GuestSign In

Log In

Reset Password
MENU
Butler County's great daily newspaper

Powell says Federal Reserve can wait on any interest rate moves

Chairman of the Board of Governors of the Federal Reserve System Jerome Powell takes the stage to speak during an event hosted by the Economic Club of Chicago, Wednesday, April 16, 2025, in Chicago. Associated Press

WASHINGTON — The Federal Reserve can stay patient and wait to see how tariffs and other economic policies of the Trump administration play out before making any changes to interest rates, Chairman Jerome Powell said Wednesday.

“As that great Chicagoan Ferris Bueller once noted, 'Life moves pretty fast,'” Powell said in a speech to the Economic Club of Chicago. “For the time being, we are well positioned to wait for greater clarity” on the impact of policy changes in areas such as immigration, taxation, regulation, and tariffs, Powell said.

The sharp volatility in financial markets since President Donald Trump announced sweeping tariffs April 2, only to put most of them on hold a week later, has led to speculation about whether the Fed would soon cut its key interest rate or take other steps to calm investors. Yet the Fed is unlikely to intervene unless there is a breakdown in the market for Treasury securities or other malfunctions, economists say.

Stocks fell further after Powell's remarks. The broad S&P 500 index dropped more than 2% in afternoon trading.

More in National News

Subscribe to our Daily Newsletter

* indicates required
TODAY'S PHOTOS