Fed Chair Jerome Powell said the bank is in no hurry to cut interest rates, waiting for clear evidence on inflation, which has been influenced by new trade tariffs.

Jerome Powell said the Fed will not cut interest rates any time soon, as it waits to see the effects of new trade tariffs on inflation. He emphasized the importance of June and July for the direction of inflation and ruled out an imminent decision on monetary policy adjustments. Although markets reacted by lowering the likelihood of a July cut, Powell indicated that the Fed is prepared to wait for more data. Trump's criticism of Powell's approach underscores tensions between the administration and the central bank.