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  • hace 4 días
Powell speaks out on tariff impact. Inside the central bank's fight for independence. Global markets react to trade tensions.
#EconomicUncertainty #PowellVsTrump #FedTariffsTangle

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00:00Federal Reserve Chair Jerome Powell recently dropped a bombshell.
00:04Interest rates would likely be lowered today if not for President Trump's tariffs.
00:09This candid admission from the central bank chief at the European Central Bank's annual forum in
00:14Cintra. Portugal pulls back the curtain on the immense pressure tariffs have placed on global
00:20markets and businesses. Powell explained that the sheer scale of the tariffs effectively put
00:26the Fed on hold, dramatically impacting inflation forecasts for the U.S. economy,
00:32despite relentless and often unprecedented attacks from President Trump, who has publicly
00:37urged the Fed to cut rates and even suggested others would be better suited to leave the central
00:42bank. Powell has stood firm. He reiterated the Fed's commitment to independence, a stance recently
00:49bolstered by a Supreme Court ruling. Powell emphasizes that as long as the U.S. economy remains
00:55robust. The prudent course is to wait and learn, carefully observing the long-term effects of
01:02these tariffs. He declined to speculate on a July rate cut, simply stating it depends on the data.
01:09When asked about the impact of Trump's sharp criticisms, Powell's response was direct and
01:14clear. I am very focused on just doing my job. He underscored the Fed's dual mandate of full
01:20employment and price stability. A sentiment that drew applause from the international audience.
01:26The President's frustration extends beyond Powell. Even targeting the Federal Open Market Committee,
01:34the very body responsible for setting interest rates. Yet, as other central bank leaders,
01:40including ECB President Christine Lagarde, affirmed, navigating political pressure while
01:46upholding economic principles is a shared challenge. The question of Powell's future at the Fed remains
01:53open. His term as chair ends in May 2025, though he could remain a board member until January 2028.
02:02For now, Kaisal's focus remains on handing over an economy in good shape to his successor.
02:08The Ongoing Dance Between Presidential Pressure and Central
02:12Bank independence continues to be a defining story for the U.S. economy. Money exports

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