Federal Reserve chair Jerome Powell has expressed concern over the so-called "K-shaped" economy the U.S. is experiencing.

Jerome Powell said most consumer consumption comes from the rich. “The top third accounts for way more than a third of the consumption ... So it’s a good question how sustainable that is.”

Powell said that Fed staffers believe federal data could be overstating job creation by up to 60,000 jobs a month—which suggests the jobs market might be shrinking.

The end of Jerome Powell’s term as Fed chair will give President Trump his biggest opportunity yet to reshape the central bank.

The Fed cut rates again, but uncertainty over incoming leadership and delayed economic data is complicating the outlook for future monetary policy.

The presidents of the 12 regional Federal Reserve banks across the country wield nearly as much influence over interest rates as permanent Fed governors.

Federal Reserve Chair Jerome Powell said the three rate cuts this year have put the central bank's benchmark interest rate closer to a "neutral" level, meaning it is neither boosting nor holding back the economy.

"It will be difficult for Powell to send a credibly hawkish signal at the press conference," analysts at Bank of America said in a note.

Federal Reserve Chair Jerome Powell said Wednesday that the current overshooting of the central bank's 2% inflation target is mostly the result of President Donald Trump's import tax hikes.

The next chair of the Federal Reserve might already be a disappointment to President Donald Trump – even before they’re named.

Fed chief Jerome Powell said the rate of U.S. inflation should peak in the first three months of 2026 and then start to slow again. Barring, that is, additional U.S. tariffs, Powell said. The previous tariffs contributed to a rise in inflation this year,