Powell: No rush to cut rates until the impact of Trump's policies becomes clearer

ChainCatcher news, Federal Reserve Chairman Powell stated that he will not rush to cut interest rates until there is further clarity on how the new Trump administration's policies will impact the economy.

Powell said, "The new administration is implementing significant policy changes in four different areas: trade, immigration, fiscal policy, and regulation. The uncertainty surrounding these changes and their potential impacts remains high. Our focus is on distinguishing signals from noise as the outlook evolves. We do not need to rush; we are fully capable of waiting for a clearer outlook."

Although Powell stated that the economy "continues to be in good shape," data also suggests that consumer spending may slow down, and businesses and corporations are facing "increased uncertainty about the economic outlook." Powell added that key indicators remain robust, and while the progress on inflation and employment is uneven, it is still ongoing. (Jin Ten)