Chair Jerome Powell says in written remarks that the Federal Reserve is likely to keep its key interest rate unchanged in the coming months as it waits for widespread “uncertainty” stemming from Presi

Powell spoke at a volatile time, with stock markets and bond yields both declining in the wake of Trump's whipsaw announcements of steep tariffs.

Noting that "uncertainty around the changes and their likely effects remains high" Powell said the Fed is "focused on separating the signal from the noise as the outlook evolves. We do not need to be in a hurry, and are well positioned to wait for greater clarity."