- Federal Reserve Chair Jerome Powell reiterated the central bank’s view that the economy was steady. However, he did acknowledge there was a higher sense of uncertainty among businesses and consumers because of the Trump administration’s latest policies. The Fed, he added, doesn’t intend to cut rates until it can assess the effect those policies will have on the economy.
The economy remains on solid footing as it has for several quarters. Inflation remains around 3%, the unemployment rate hovers around 4%, and generally the fears of a recession have not come to pass. Yet there is one change rippling through the American consumer: Will the stability continue?
