As Trump Calls for Cuts, Powell Stresses Limits of Fed Policy

Jerome H. Powell, the Federal Reserve chair, kept future interest rate cuts squarely on the table on Friday while stressing that the central bank’s powers to right the economy were limited by President Trump’s trade policies, which continue to pose risks to the economic outlook.

“While monetary policy is a powerful tool that works to support consumer spending, business investment, and public confidence, it cannot provide a settled rule book for international trade,” Mr. Powell said, speaking from prepared remarks in Jackson, Wyo., at the Federal Reserve Bank of Kansas...