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Trump targets Powell ahead of testimony: ‘We should be at least two to three points lower’

  • Federal Reserve Chairman Jerome Powell testified before Congress on June 25, 2025, addressing inflation, tariffs, and interest rates amid criticism from President Trump.
  • Trump pressured Powell to lower rates and criticized his refusal, while Powell stressed the Fed's focus on inflation and warned tariffs could worsen price pressures.
  • Powell stated economic data supports potentially lowering rates soon if inflation remains contained, but tariffs pose risks that may sustain inflation longer.
  • The World Bank downgraded its 2025 growth forecast by 0.4 percentage points to 2.3%, citing Trump's tariffs as a significant obstacle to global economies.
  • Powell's testimony and ongoing tariff debates highlight tensions over monetary policy and economic outlook, with implications for future rate decisions and growth.
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Powell holds ground before Congress amid pressure from Trump

(The Center Square) – Federal Reserve Chairman Jerome Powell told Congress on Tuesday that economic data merited lower interest rates but that tariffs could undo the central bank's fight to tame inflation.

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finanzmarktwelt.de broke the news in on Tuesday, June 24, 2025.
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