Powell Offers No Rate-Cut Timeline as Fed Keeps Inflation Battle Front and Center

Powell Holds the Line as Trump Urges Rate Cut Amid Market Turmoil

With markets still rattled from President Trump’s sweeping tariff announcement earlier this week, Federal Reserve Chair Jerome Powell on Friday signaled no immediate shift in monetary policy, despite rising pressure from investors — and the White House.

Speaking at the Society for Advancing Business Editing and Writing (SABEW) conference, Powell said the Fed is in “no hurry” to alter its stance.

“We are well positioned to wait for greater clarity before considering any adjustments to our policy stance,” he said. “It is too soon to say what will be the appropriate path for monetary policy.”

The Fed chief acknowledged the newly announced tariffs were “significantly larger” than anticipated, but emphasized the need to avoid a lasting inflation shock from what is expected to be a short-term spike.

Bitcoin, which briefly rallied in anticipation of a more dovish tone from Powell, slipped back under $83,000 after his remarks. Meanwhile, the Nasdaq extended losses, down 4.2% on the day, compounding Thursday’s 6% drop.

Trump Turns Up Public Pressure

Just before Powell’s speech, President Trump renewed his calls for immediate rate cuts via a post on Truth Social.

“This would be the perfect time for Fed Chairman Jerome Powell to cut interest rates,” Trump wrote. “He is always ‘late,’ but he could now change his image, and quickly … Cut interest rates, Jerome, and stop playing politics.”

Despite the escalating rhetoric, Powell made no promises — suggesting the Fed’s next move will be driven by data, not political pressure.