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EN
Powell signals Federal Reserve to move slowly on interest rate cuts
['Associated Press']
WXXV News 25WXXV News 25
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell on Tuesday signaled a cautious approach to future interest rate cuts, in sharp contrast with other Fed officials this week who have called for a more urgent approach.
But with the unemployment rate rising, he noted, the Fed agreed to cut its key rate last week.
Powell’s remarks echoed the caution he expressed during a news conference last week, after the Fed announced its first rate cut this year.
When the Fed cuts its key rate, it often over time reduces other borrowing costs for things like mortgages, car loans, and business loans.
Powell and the Fed have been under steady attack from Trump, though Powell did not name him.
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