Right now, inflation is still hovering just above the Federal Reserve’s target and data is mixed. That’s why Fed Chair Jerome Powell is keeping rates steady, despite public calls for action

WASHINGTON (AP) — The Federal Reserve will continue to wait and see how the economy evolves before deciding whether to reduce its key interest rate, Chair Jerome Powell said Tuesday, a stance ...

WASHINGTON (AP) — The Federal Reserve will continue to wait and see how the economy evolves before deciding whether to reduce its key interest rate, Chair Jerome Powell said Tuesday, a stance ...

“With inflation near target and the upside risks to inflation limited, we should not wait until the labor market deteriorates before we cut the policy rate,” he said. “I believe it makes sense to cut the (Fed’s) policy rate by 25 basis points two weeks from now.” (Twenty-five basis points equals one quarter of an interest rate point.)

A new report shows inflation has picked up and analysts believe the prices of many goods increased, in part, because of President Trump’s tariffs. It will play into decisions by the Federal Reserve about when and whether to cut interest rates and comes as the president and his team have ramped up their pressure campaign on Fed Chair Jerome Powell.

Bank of Cleveland President Beth Hammack said that she does not see an immediate reason to cut interest rates and that the U.S. economy is "really healthy."

Powell is facing two days of what could be tough grilling on Capitol Hill, as Trump has repeatedly urged the Fed to reduce borrowing costs

JPMorgan CEO Jamie Dimon said that accurate economic forecasts are a challenge because key shifts are apparent only in hindsight, citing tariffs and trade uncertainty, worsening geopolitical conditions, high fiscal deficits and elevated asset prices, Reuters reported June 15.