Chairman of the US Federal Reserve Board Jerome "Jay" Powell told the Senate Banking Committee on Tuesday that the central bank was in no hurry to cut interest rate because it needed more time assess the potential inflationary impact of President Trump's tariff and mass deportation policies.
He indicated however that the central bank is prepared for any eventuality, adding that the US labour market is well balanced and is not a source of inflation.
The Fed Chairman is expected to continue his testimony before the House Banking Committee on Wednesday.
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