Here are key points from Fed Chair, Jerome Powell’s testimony👇
▪️The Fed is taking a cautious, wait-and-see approach on cutting rates. ▪️New tariffs could increase inflation and slow down the economy. ▪️No clear indication of rate cuts anytime soon. ▪️The job market is still strong overall. Inflation is cooling, but still higher than ideal. ▪️ Rate cuts will happen when appropriate; banks can participate in crypto; and inflation linked to tariffs could rise starting June.
Bottom line 👉 Powell isn’t ready to cut rates just yet.