Archive · 25 Jun 2025
Powell Testifies on Rates Amidst Trump's Demands
Jerome Powell, the head of the Federal Reserve, spoke to the Senate about the economy.
He's keeping interest rates the same for now because he wants to see how tariffs (taxes on imported goods) affect prices.
President Trump wants the rates to go down.
Powell says the economy is doing well, even with some uncertainty.
Other people in the Fed might cut rates soon.
Jerome Powell testified before the Senate Banking Committee about the Federal Reserve's monetary policy.
Powell reiterated the Fed's plan to maintain the current interest rate until the impact of tariffs is understood.
President Trump has called for interest rate cuts, contrasting with Powell's stance.
Powell stated the economy is in a solid position despite uncertainties, including tariffs.
Some Fed members are open to rate cuts, potentially in July, according to the report.
- Who
- Jerome Powell and President Donald Trump.
- What
- Jerome Powell testified on monetary policy before the Senate Banking Committee.
- When
- Ongoing, with the hearing happening today.
- Where
- Senate Banking Committee.
- Why
- To discuss the Fed's monetary policy amidst economic uncertainties, including the impact of tariffs.
Those Favoring Rate Cuts
Those Cautious About Rate Cuts
Rate Cut Timing
Those Favoring Rate Cuts
Advocates for quicker rate cuts.
Those Cautious About Rate Cuts
Prefer to maintain the status quo until the impact of tariffs is clearer.
- Key Figure
- Jerome Powell
- Position
- Federal Reserve Chair
- Committee
- Senate Banking Committee
- Trump's Stance
- Advocates for Rate Cuts
- Next FOMC Meetings
- July 29-30, September 16-17, and October 28-29
Sources
All eyes on US Fed chief Powell’s speech today – Check time, where to watch
‘Europe Has Had 10 Cuts, US Has Had Zero’: Trump Urges Fed To Cut Interest Rates
Powell reaffirms wait-and-see posture on rate cuts, citing solid economy
Jerome Powell at Congressional testimony says higher inflation outlook keeping Fed rate on hold for now
Fed Chair Jerome Powell signals patience on rate cuts amid Trump pressure
Powell says Fed rate cut is on hold even as Trump demands cuts
JD Vance Blasts Jerome Powell for avoiding rate cuts, ‘love to hear an argument…’
‘Fed would have cut rates if not for Trump’s tariffs’, says Powell
Powell signals no immediate rate cuts amid Trump’s pressure on Fed
