Fed’s chairman Powell plans to hold US rates steady

Ahead of a meeting of US central bank officials in Washington in the next two days, markets expect the Federal Reserve to keep interest rates unchanged, as Bloomberg noted. Despite this, concerns regarding the economy’s slowdown continue to exacerbate. The United States president Donald Trump, backed by some of his representatives, keeps on pushing interest rate cut from the Federal Reserve (Fed) Chairman Jerome Powell.

According to data published by the US government on Friday, the amount of employed residents increased by 177,000 in April. Meanwhile, the latest inflation figures from the regulator showed the easing of price pressures in the country's economy. Such statistics suggest positive prospects for the country's economy. Nevertheless, the Trump administration's trade policy of imposing higher tariffs adds more risks to the long-term outlook.

As Bloomberg experts note, Powell will oppose raising interest rates and prioritize price stability in the territory. As other regulatory officials commented, there is no urgent need for an immediate change in monetary policy if the labor market remains stable.