Fed Chair Jerome Powell said tariff concerns delayed interest rate cuts, stating the central bank would have likely reduced rates this year if not for potential consumer price hikes.

Federal Reserve Chair Jerome Powell told a financial conference in Portugal on Tuesday that he would have lowered interest rates if not for President Trump's tariffs. The White House all-but directly asked the Fed to lower rates yesterday,

The central bank chief said he believes the Fed board would have decided to lower rates further until Trump launched his mercurial on-again, off-again tariffs policy, which could wind up raising