#PowellRemarks Yesterday, the chairman of the Federal Reserve, Jerome Powell, rejected President Trump's request for an immediate interest rate cut, warning that the new 10% tariffs on all imports will likely increase inflation and slow down economic growth. Powell emphasized the need to keep long-term inflation expectations stable and stated that the Fed is well positioned to wait for greater clarity before changing monetary policy. He also highlighted the uncertainty regarding the duration and extent of the economic effects of the tariffs, reiterating the Fed's commitment to price stability and maximum employment. citeturn0news1