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,” Powell told the House Financial Services Committee.

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 says, a stance directly at odds with President Do

Trump is urging the Fed to cut rates to save the U.S. government money on its interest payments affixed to the vast national debt. Yet the Fed has long resisted considering the government’s financing costs when making interest rate decisions, preferring instead to focus on the health of the economy and inflation.

On July 1, Federal Reserve Chair Jerome Powell spoke at the ECB Forum and conveyed caution regarding potential interest rate cuts, reiterating that policymakers are prepared to react to the data that emerges in an environment where economic uncertainty, created by protectionist trade policies, is present.

Powell's comments echo those he has made in recent months and at a news conference following the Fed’s decision last week to hold its key interest rate steady at 4.25% to 4.5% for a fourth ...