Overview
- Fed Chair Jerome Powell announced that the Federal Reserve will maintain its current interest rate policy, citing significant economic uncertainty tied to recent government actions.
- Tariffs imposed by the Trump administration are expected to increase prices and could slow economic growth, though their long-term impact remains uncertain.
- Consumer confidence has declined sharply, with recent surveys showing heightened concerns about inflation, wages, and the broader economic outlook.
- The U.S. economy added 151,000 jobs in February, a slowdown from previous months, while the unemployment rate rose to 4.1 percent, the highest in over three years.
- Despite the uncertainty and mixed signals, Powell emphasized that the economy remains largely healthy, but the Fed will wait for greater clarity before adjusting rates further.