On the recordFebruary 10, 2025
I think the standard case for free trade and all that logically still makes sense. It didn’t work that well when we have one very large country that doesn’t really play by the rules.
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nbcnews.comI think the standard case for free trade and all that logically still makes sense. It didn’t work that well when we have one very large country that doesn’t really play by the rules.
Powell discusses the complexities of trade policy and the Fed's role.
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More from Jerome Powell
As long as the economy is in solid shape, we think the prudent thing to do is to wait and see what those effects might be.
If we move too slowly, there may be unnecessary losses, painful losses in the employment market.
So we didn't overreact — in fact, we didn't react at all. We're simply taking some time.