Powell: Don't rush to cut interest rates until the impact of Trump's policies is further clarified

According to BlockBeats, on March 8th, Federal Reserve Chairman Powell stated on Friday that he will not rush to cut interest rates until further clarity is gained on how the policies of the new Trump administration will affect the economy. Powell said, "The new government is implementing significant policy changes in four different areas: trade, immigration, fiscal policy, and regulation. The uncertainty surrounding these changes and their potential impacts remains high. Our focus is on distinguishing signals from noise as the outlook changes. We don't need to rush, we are fully capable of waiting for a clearer outlook Powell's speech came at a turbulent time when both stock and bond yields were falling. Trump announced the imposition of high import tariffs on major trading partners Mexico and Canada, but later postponed their implementation. Although Powell stated that the economy "continues to be in good shape," the data also suggests that consumer spending may slow down, and businesses and companies are facing "increased uncertainty about the economic outlook. Powell added that key indicators remain robust, and the progress of inflation and employment growth, although uneven, is still ongoing. (Golden Ten)