$ETH

Urgent: Market collapses multiply after Powell's comments.. and gold falls sharply.

Trump wrote: "This is the perfect time to cut interest rates," adding that Powell should "stop being political."

The Fed Chair did not directly respond to the president's remarks but reiterated the independence of the central bank and its mandate regarding inflation.

Powell said: "The Fed is committed to anchoring inflation expectations."

While Powell acknowledged the economic risks from tariffs, his message was clear: the Fed will not rush to meet market or political demands. Instead, it will act based on incoming data and its dual mandate.