Federal Reserve Chair Jerome Powell said on Tuesday he would not rule out a potential interest rate cut as soon as this month. The remarks come amid a public pressure campaign from President Donald Trump, who has repeatedly urged Powell to slash interest rates.
When asked on Tuesday about a possible interest rate cut at the Fed’s meeting this month, Powell said, “I wouldn’t take any meeting off the table or put any on the table. It depends on how the data evolve.”
Speaking on a panel at the European Central Bank forum in Sinatra, Portugal, Powell deflected a question from the moderator about challenges posed by Trump’s barbed criticism.
“I’m very focused on just doing my job,” Powell said, drawing applause. The central bank remains “100% focused” on its dual mandate of controlling inflation and delivering maximum employment, Powell added.
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Author: Dillon B
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