There Federal Reserve he unanimously decided to leave the Reference rates (in an interval between the 4.25% and the 4.50% from December), which is foreseeable and despite the insistent requests of the President Donald Trumpwho wants to be lowered while the United States they begin to absorb the impact of duties. “Uncertainty Regarding the economic perspectives, it has further increased », reads the declaration of FOMC. And a little further on: they are “increased»Also the risks of a”Greater unemployment»And of a”greater inflation». But for now, despite theIncrease in imports has weighed on the data of the GDP of the first quarter, “recent indicators suggest that theUS economic activity He continued to grow at a sustained pace ».
In the usual press conference followed by the meeting, the president Jerome Powell He still talked about “uncertainty»Linked to duties triggered by Trump and explained that the potential economic impact could conflict the objectives of the central bank regarding unemployment And inflation. “I think there is a lot uncertaintyfor example, on where the tariff policies And also, when they stabilize, what will be the implications for theeconomy“, Powell said, answering the questions of journalists. «We could find ourselves in a difficult scenario in which our goals of double mandate I am in conflict ».
Powell stressed, however, that theEconomy with stars and stripes remains in a position “solid». It is still “one ‘healthy economyalthough surrounded by a Very negative sentiment by citizens and businesses. So – he said – we think we can wait and act when it is clear what will be appropriate to do. At the moment, there is no reason to make a decision, and there is no real reason to do it. We are in a good position to wait older clarity before deciding Monetary policy adjustments». Powell insisted: «I don’t think we have to be in a hurry. We can move quickly when it is appropriate. It is currently appropriate wait».
And on recent criticism and the pressure of the US President for a cutting of interest rates clarified: “Do not influence At all our work and how to do it ». And he continued: «We will continue to do the same thing, to use ours instruments To promote the maximum employment and the price stability for the benefit of the American people. We will consider only i cheap datathe prospectiveThe risks budgetand nothing else ». And further on in the debate with journalists he said he never tried to meet any President of the United States And, if he had such a meeting, it is because the elected leader sought the interaction. “I never asked for a meeting with any president and I will never do it – he said – there was never reason why I asked for a meeting, it has always been the opposite”.
Last month, Trump defined Powell a “great loser», While concluding by saying that he has no intention of trying to extract the president of the Fed.
There Usa Central Bank He said that the “Net export oscillations»They don’t seem to have influenced the solid economic activitya clear reference toImprove of pre-Dazi imports in the first quarter. Last month Trump has introduced high rates on the China and “basic” lower of the 10% on goods coming from most of the other countries, triggering weeks of turbulence on financial markets. There White house also imposed higher duties to dozens of others Commercial partnersand then suspend them abruptly until July to give the United States the time to renegotiate the existing commercial agreements.
The official indicators in United States remain on positive levels: unemployment al 4.2% in April and inflation 12 months at 2.3% In March, superior but close totarget of 2% from the Fed. In the meantime, the GDP of the first quarter it is contract of 0.3% on an annual basis.