Monetary policy

The Federal Reserve chair said there is "room for improvement" in how the central bank conveys economic uncertainties to markets and the public.

A joint study by the Federal Reserve Bank of New York and the Bank for International Settlements found that a shift to widespread tokenization would not impact central banks' ability to transmit monetary policy, and that the technology could even prove beneficial.

Price growth continued to trend toward the Federal Reserve's 2% target, but not enough to spur action from the central bank.

Federal Reserve Gov. Michael Barr said global supply chain disruptions and inflation caused by tariffs could weigh heaviest on small businesses, especially those with little access to credit.

Federal Reserve Chair Jerome Powell declined to say whether he would depart the central bank after his chairmanship ends next year, as is typical with Fed chairs who are not reappointed. He also pushed back on criticism from one potential replacement.

Federal Reserve Chair Jerome Powell will likely be asked about the economic fallout from President Trump's tariff rollout during his press conference following the Federal Open Market Committee meeting.

The Bureau of Labor Statistics reported that the economy grew 177,000 jobs in April, beating expectations and giving the Federal Reserve little reason to adjust interest rates in the near term.

The Federal Reserve's preferred inflation reading fell in March, but the positive reading came before new trade policies hit the economy.

The Federal Reserve governor remains optimistic about tariffs being a one-time shock to prices, but the central bank still needs more clarity about what the policies will look like.

The president said he had "no intention" of firing the Federal Reserve chair and promised that tariffs against Chinese imports would be lowered "substantially."