Earlier this year, economists believed the Fed would keep its key policy rate unchanged all year long after four rate hikes last year.
However Mr Trump has bitterly attacked the U.S. central bank since previous year, accusing it of tightening monetary policy too quickly and preventing what he says could be skyrocketing economic growth. "I don't think you have to take huge action to get this".
But Mr Powell warned that the central bank would not "overreact" to individual data points and short-term swings in sentiment that could quickly evaporate.
"He's trying to prove how tough he is by not getting pushed around".
Trump said: "He's chose to prove how tough he is, because he's not going to get pushed around? He's not doing a good job", Mr Trump said.
European stock markets fell early on Wednesday, as bets on an aggressive half-point cut in US interest rates collapsed following Wednesday's message from Federal Reserve, soothed in part by strong results from chipmaker Micron Technology.
"If you see weakness, it's better to come in earlier rather than later", Powell said of rate adjustments at the Council on Foreign Relations in NY.
Asked later about the possibility of disappointing markets by not delivering a cut, Powell added, "We're not in the business, really, of trying to work through short-term movements in financial conditions. We have to look through that".Читайте также: Mikel Obi loses first team shirt as Super Eagles beat Guinea
Data released Wednesday showed USA durable goods orders fell in May, helping push the closely watched economic indicator to its lowest level in 16 months and reinforcing the case for a rate cut.
He continued, "I never suggested I was going to do that".
Adding to the anxiety were Mr Trump's threats to obliterate parts of Iran if it attacked "anything American" - prompting Tehran to condemn the latest USA sanctions on Iran, and call the White House's actions "mentally retarded".
The greenback rallied hard on the back of Fed's Bullard who stated that a 50 bp cut would be too aggressive in July but advocated for a 25bp cut instead.
The Federal Reserve won't be handing President Trump his rate cuts on a silver platter. Fed policy makers are next scheduled to meet July 30-31.
Investors found no relief in a White House official's remarks - which downplayed expectations of US President Donald Trump's upcoming trade talks with his Chinese counterpart, Xi Jinping, at the G20 summit in Japan this weekend.
The two leaders have been at odds on the terms of a trade deal that could resolve months of disagreements that have led to tit-for-tat tariffs.
Asian stock markets were mostly lower on Wednesday afternoon, following a trading session on Wall Street on Tuesday in which all three major benchmarks closed lower.При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
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