Powell spoke at a volatile time, with stock markets and bond yields both declining in the wake of Trump's whipsaw announcements of steep tariffs.

With US stocks unstable, consumer confidence in the economy plunging and whispers of a potential recession growing less muted, the economy under President Donald Trump's second term has been about as stable as a recovering addict's first week back on blow.

Chair Jerome Powell says in written remarks that the Federal Reserve is likely to keep its key interest rate unchanged in the coming months as it waits for widespread “uncertainty” stemming from Presi