Federal Reserve Chair Jerome Powell told House lawmakers on 24 June that the central bank is “well-positioned to wait” before adjusting interest rates, noting that inflation has eased but remains above the 2 percent goal and that the economy and labour market are still solid. He said policymakers want more clarity on how recent measures, including the new 145 percent tariff on Chinese imports, will affect prices and growth. Powell cautioned that higher import duties are likely to push up inflation and weigh on activity, although the size and duration of the impact are uncertain. He stressed the Fed’s commitment to keeping longer-term inflation expectations anchored and preventing a one-time price jump from becoming persistent. The testimony underlines the Federal Open Market Committee’s decision the previous week to leave the federal-funds rate unchanged at 4.25 percent to 4.50 percent, after trimming it from last year’s 5.50 percent peak. Powell offered no timetable for future moves, saying officials will patiently assess incoming data. Boston Fed President Susan Collins delivered a similar message on 15 July, describing the economy as “in a good place” and urging the Fed to be “actively patient.” Collins said the tariffs could lift core inflation to about 3 percent by year-end and slow hiring modestly, but added that strong household and corporate balance sheets may limit the drag.