Economics
Powell Brushes Aside Rate-Cut Pressure With Confidence on Prices
- Fed chairman sees no reason to panic over recent low inflation
- Powell doesn’t see a risk of financial or economic overheating
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Federal Reserve Chairman Jerome Powell pushed back against pressure for interest-rate cuts from traders and President Donald Trump, saying inflation will rebound and the economy will stay healthy without fresh help from the central bank.
“We don’t see a strong case for moving in either direction,” Powell told a press conference Wednesday after officials left their main rate unchanged. “The economy continues on a healthy path, and the Committee believes that the current stance of policy is appropriate.”