Washington | Donald Trump launched a tirade against Federal Reserve chairman Jerome Powell hours after the US central bank defied the president’s calls for deep reductions in interest rates and left them on hold.
Mr Powell said on Wednesday (Thursday AEDT) the bank was in no rush to adjust monetary policy. The chairman signalled rates would remain on hold until his officials had more time to assess the impact on inflation of Mr Trump’s pledges to raise tariffs, slash taxes and deport thousands of migrants.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
