Federal Reserve's Rate Cut Delayed by Tariffs, Powell Warns of Consumer Impact

Federal Reserve Chair Jerome Powell indicated that a rate cut could occur at the July 29-30 meeting if economic conditions, particularly inflation and employment data, support it, amidst ongoing pressure from President Trump and external economic factors like tariffs. Powell emphasized the Fed's independence and focus on its dual mandate of maximum employment and price stability, with some analysts expecting a rate cut later this year, though no definitive decision has been made yet.