TechFlow, July 1 — According to Jinshi Data, Federal Reserve Chair Jerome Powell said at an event in Sintra, Portugal on July 1 that if it were not for President Trump's tariff policies, the Fed would have begun cutting interest rates in 2025 and would currently be pursuing a more accommodative monetary policy.
When asked whether the uncertainty caused by the U.S. government's current tariff regime has led the Fed to delay rate cuts, Powell gave an affirmative response. He added that due to the impact of tariffs, nearly all forecasts for U.S. inflation rates are rising significantly.
Powell acknowledged that despite growing pressure from the U.S. government, the Fed has entered a phase of holding rates steady. He also stated that given the current uncertainty in the economic outlook, the Fed is still watching developments closely to gather more information.
