Powell emphasizes Fed’s obligation to prevent ‘ongoing inflation problem’ despite Trump criticism

Key Points

Federal Reserve Chair Jerome Powell on Tuesday said he expects policymakers to stay on hold until they have a better handle on the impact tariffs will have on prices.
The cautious tones could further antagonize President Donald Trump, who has ramped up his long-standing criticism of Powell.
Powell will present his speech, along with the Fed’s monetary policy report, first to the House Financial Services Committee on Tuesday morning, then the Senate Banking Committee a day later.

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