The Fed can’t decree credit easy or tight, and it can’t because there’s no credit by decree in the first place. Credit is once again produced in the form of market goods and labor. The Fed produces neither, which is yet another comment that the Fed’s ability to influence economic activity is well overstated.

Fed Chair Jerome Powell said tariff concerns delayed interest rate cuts, stating the central bank would have likely reduced rates this year if not for potential consumer price hikes.

The Fed Chair on Tuesday reiterated the central bank plans to "wait and learn more" about the impact of tariffs on inflation before lowering rates.