Chair says that inflation and unemployment risk have risen, but more observation is needed.
The Federal Reserve decided to keep interest rates at a range of 4.25 percent to 4.5 percent, Fed chair Jerome Powell reported on Wednesday, holding the numbers steady since the most recent change in December.
The chairman said, “We’ve judged that the risk to higher inflation and unemployment has risen” since the Fed last met in March. But, he added, “We can’t say which way this will shake out.”
“This would be a complicated and challenging judgment we would have to make,” Chair Powell added. “If the two goals are in tension — if unemployment is moving up in an uncomfortable way, and so is inflation — we would look at how far they are” from the Fed’s targets, and focus first on the economic issue that’s under greater stress, he concluded.
As the Lord Leads, Pray with Us…
- For Chair Powell and members of the Federal Reserve as they assess the economy, inflation, and employment data.
- For President Trump as he seek to improve commerce, trade, and increase job opportunities in the nation.
Sources: CBS News, Breitbart
