Powell says U.S. economy has "pushed right through" significant trade policy changes

Federal Reserve Chair Jerome Powell announced that the U.S. central bank held interest rates steady on Wednesday, marking its first pause after three consecutive cuts in 2025, as the economy has 'pushed right through' significant trade policy changes. The decision reflects the Federal Reserve's assessment that the U.S. economy has demonstrated resilience amid shifting trade policies, with Powell suggesting that businesses and consumers have adapted to the changing landscape without significant disruption to economic growth. The Fed's decision to maintain current interest rates indicates confidence in the economy's ability to withstand external pressures while continuing its expansionary trajectory. CBS News coordinating producer Richard Escobedo reported on the development, highlighting the significance of this pause after the recent rate cuts that were implemented earlier in the year.