Powell criticized Trump in Congress: The tariff policy is the main culprit for the Fed's decision not to cut interest rates.

According to the CITIC Securities APP, on Tuesday, Federal Reserve Chairman Powell attended a congressional hearing and made a speech on the current interest rate policy outlook. He said that if it were not for the new round of tariff measures initiated by the Trump administration on April 2, the Fed might have already begun cutting interest rates. However, the potential inflation risks brought by tariffs have led the decision-making level to choose to stay put.