Powell resists Trump pressure: Fed chair tells House panel...

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Powell resists Trump pressure: Fed chair tells House panel ‘we are well positioned to wait’, says more economic clarity needed

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Federal Reserve Chair Jerome Powell indicated the central bank's intent to hold steady on interest rates, prioritizing further economic data analysis before contemplating any reductions. This stance directly contradicts President Trump's renewed calls for immediate rate cuts. Powell is set to face potentially challenging hearings on Capitol Hill, addressing monetary policy and economic concerns amid increasing political pressure.

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