by Mike Maharrey
GoldSeek
In a rare moment of honesty, Federal Reserve Chairman Jerome Powell admitted he and his fellow central bankers don’t know what they’re doing as they wrapped up the May Federal Open Market Committee (FOMC) meeting.
As was expected, the Fed held interest rates steady at the meeting, taking a “wait and see” attitude.
“There’s just so much that we don’t know,” Powell conceded. “I think, and we’re in a good position to wait and see, is the thing. We don’t have to be in a hurry.”
Uncertainty was the theme of Powell’s post-meeting press conference, as he focused on the unknown impact of tariffs on the economy.