US Fed Chair Jerome H. Powell spoke at the Thomas Laubach Research Conference Thursday morning.
The Federal Reserve kept its key interest rate unchanged earlier this month brushing off President Donald Trump’s demandsto lower borrowing costs, and said that the risks of both higher unemployment and higher inflation have risen, an unusual combination that puts the central bank in a difficult spot.
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The Fed kept its rate at 4.3% for the third straight meeting, after cutting it three times in a row at the end of last year. Many economists and Wall Street investors still expect the Fed will reduce rates this year, but the sweeping tariffs imposed by Trump have injected a tremendous amount of uncertainty into the U.S. economy and the central bank’s policies.