‘No risk free path:’ Fed Chair Jerome Powell calls for moderation on monetary policy

['Nancy Lavin', 'Rhode Island Current', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar'] What's Up Newp 2025-09-23 23:19:08

Federal Reserve Chair Jerome Powell gave no indication that future interest rate cuts are coming, despite mounting pressure from President Donald Trump and Trump-appointed officials for the central bank. Stephen Miran, Trump’s economic adviser and a new appointee to the Federal Reserve Board of Governors, said Monday that the 4.1% interest rate was still too high. “Our policy is not on a preset course,” Powell said, emphasizing the Federal Reserve’s dual mandate to maximize employment while keeping inflation at or near 2%. However, Powell noted that other labor market signals remain stable, including the ratio of job openings to unemployment, while inflation remains elevated. But the economic highs and lows have sharpened in the five years since Powell last visited Rhode Island.