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Federal Reserve Chair Jerome Powell, testifying before the House Financial Services Committee, reaffirms the central bank's commitment to policy decisions independent of political influence, particularly in response to President Donald Trump's recent tariff implementations. Powell acknowledges that the Federal Reserve is reserving judgment on the economic impact of these tariffs, emphasizing a data-driven approach to future monetary policy adjustments.
In his semiannual Monetary Policy Report to Congress, Powell reflects on the Federal Reserve's 2021 assessment of inflation as transitory, which influenced the decision to maintain interest rates at that time. He clarifies that current policy decisions. . .
