For the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance,” Powell told the House Financial Services Committee.

The Federal Reserve is not cutting interest rates yet because there is a possible inflation spike on the horizon. Until the central bank can see exactly how it will play out, interest rates will remain where they are,

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 said Tuesday, a stance directly at odds with