Washington – Federal Reserve President Jerome Powell said President Donald Trump on Wednesday citation For lower interest rates is not the central bank to change its rate decisions.
“People can be sure that the head will continue to go down, that we will continue to do our job and make decisions according to what is happening in the economy,” Powell questioned members of the Home Financial Services Committee. Powell talked The second day His testimony for the conference semester.
Wednesday, Trump said about social media “that interest rates should fall, something that would go along with the coming rates!” ”
However, the Powell indicated at the press conference Last month After the Fed has reduced last year’s rate three times, they would cut it after more cuts, while he waits to prove inflation to 2%.
And many Fed officials want to wait and see how to trump policies, including proposed rates And the one that has put it, has an impact on the economy. Most economists worry that fares will be temporary inflation.
Wednesday, the government reported that it is inflation received in the last monthWith consumer prices rose by 3% in January a year earlier, in September by 2.4% 1 of 1 1/2 years in September. Uptick puts even less that the FED will cut its key rate at any time. Fed’s rate affects costs borrowed in the economy, including mortgages, car loans and credit cards.
Fed cut it three times last year, about 4.3% from 5.3% to 5.3%, but in January he said it would be maintained without changing the rate until the inflation progresses. The December Fed officials were expected to establish two cuts this year, but some economists believe that the Fed can now hold the Fed.
