Powell says Fed must weigh risks to inflation, jobs in 'very difficult policy environment'

Federal Reserve Chair Jerome Powell indicated during a speech Tuesday that he plans to take a cautious approach to future interest rate cuts as the board seeks to balance competing priorities amid a “very difficult policy environment.”

What You Need To Know

Federal Reserve Chair Jerome Powell indicated during a speech Tuesday that he plans to take a cautious approach to future interest rate cuts as the board seeks to balance competing priorities amid a “very difficult policy environment”

Interest rates are traditionally lowered to spur job creation and raised to combat inflation

His remarks in Providence, Rhode Island came one week after the Fed approved its first cut to benchmark interest rates of the year –– the board voted to lower interest rates by 0.25%, lowering short-term rates