Some GOP senators criticized Powell, however, for characterizing tariffs as a potential driver of inflation. Sen. Pete Ricketts, a Republican from Nebraska, argued that the duties could simply act as a one-time increase in prices that wouldn’t fuel inflation.

Federal Reserve Chair Jerome Powell said the US central bank is still struggling to determine the impact of tariffs on consumer prices.

The Federal Reserve will continue to wait and see how the economy evolves before deciding whether to reduce its key interest rate, Chair Jerome Powell says, a stance directly at odds with President Do

Follow live coverage and the latest news from Federal Reserve Chairman Jerome Powell. He'll speak to both chambers of Congress, testifying on Tuesday to the House and on Wednesday to the Senate.

Here are the key takeaways from Federal Reserve Chair Jerome Powell’s testimony before the House Financial Services Committee Tuesday:

Federal Reserve Chair Jerome Powell is in no hurry to lower interest rates despite multiple calls from President Trump to drop them. Testifying before the House Financial Services Committee on