Fed chair says interest rate changes can wait

Federal Reserve Chair Jerome Powell said interest rate changes can wait until the Trump administration's tariffs and other economic policies play out.

"For the time being, we are well positioned to wait for greater clarity," Powell said in a speech to the Economic Club of Chicago.

Powell noted the Trump administration's tariffs are "significantly larger than anticipated" and that "the same is likely to be true of the economic effects."

Read more from The Associated Press.