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Fed Stays Course Amid Trump’s Rate Pressure

3/21/2025

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Summary

Story summary

New York Fed President John Williams supports the current "modestly restrictive" monetary policy amid economic uncertainties, with no immediate need for rate changes.
President Trump urged the Fed to lower rates, citing concerns over tariffs and economic effects.
Fed Chair Jerome Powell highlighted the importance of caution due to uncertainty from Trump's policies, with inflation still exceeding the 2% target.

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Story summary

New York Fed President John Williams supports the current "modestly restrictive" monetary policy amid economic uncertainties, with no immediate need for rate changes.
President Trump urged the Fed to lower rates, citing concerns over tariffs and economic effects.
Fed Chair Jerome Powell highlighted the importance of caution due to uncertainty from Trump's policies, with inflation still exceeding the 2% target.