The Fed chair will tell lawmakers that the central bank can wait to see how President Trump’s tariffs affect the economy before lowering borrowing costs.

The Fed is prepared to hold interest rates steady as officials “wait to learn more about the likely course of the economy.” That was the message from Chair Powell in prepared testimony to Congress on Tuesday morning.

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