Powell Reiterates Desire to Hold Rates

<p>Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.<br /><br />Federal Reserve Chair Jerome Powell had plenty of opportunities Tuesday to tell lawmakers definitively the central bank will cut interest rates soon. He didn&rsquo;t take any of them.<br /><br />Instead, Powell reiterated his view that policymakers need not rush to adjust policy, a counter to President Donald Trump&rsquo;s demands and recent statements from Fed Governors Christopher Waller and Michelle Bowman that signaled the two would be open to lowering rates as soon as July.<br />&ldquo;If it turns out that inflation pressures do remain contained, then we will get to a place where we cut rates, sooner rather than later,&rdquo; Powell said in response to a question about the possibility of a rate cut next month during a House Financial Services Committee hearing. &ldquo;But I wouldn&rsquo;t want to point to a particular meeting. I don&rsquo;t think we need to be in any rush because the economy is still strong.&rdquo;<br />Powell&rsquo;s remarks before the congressional panel came on the heels of the Fed&rsquo;s decision last week to leave interest rates unchanged in a range of 4.25%-4.5%. He has maintained policymakers should take a cautious approach to rate cuts as they wait for more clarity on the impacts of Trump&rsquo;s economic policies, particularly on tariffs.<br /><br />&ldquo;The effects of tariffs will depend, among other things, on their ultimate level,&rdquo; Powell said. &ldquo;For the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance.&rdquo;<br />Today's show features:</p> <ul> <li>Michael McKee, Bloomberg International Economics and Policy Correspondent and Alix Steel, Bloomberg Radio and TV host, on Powell testimony and global oil markets</li> <li>Bloomberg Middle East Geoeconomics Reporter Dina Esfandiary on latest in the Middle East</li> <li>Craig Trudell, Bloomberg Global Autos Editor &amp; Bloomberg Businessweek Senior Reporter Max Chafkin on boom in driverless cars</li> <li>Katie Hubbard, EVP of Capital Markets for Walton Global</li> </ul><p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p>