#PowellRemarks
1. Powell warned that the Fed is not a market "savior" and will continue to operate independently regardless of politics.

2. He noted that Trump's tariff policies are "significantly larger than anticipated" and could lead to higher inflation and slower growth.

3. The Fed may face a "challenging scenario" balancing maximum employment with price stability.

4. U.S. stock markets fell sharply following his speech, with the Dow dropping 1.7%, S&P 500 down 2.5%, and Nasdaq falling 3.5%.

5. Powell indicated the Fed will "hold steady" until data clearly shows how the U.S. economy is responding to Trump's policies.

6. He acknowledged cryptocurrencies are becoming more mainstream and stablecoin regulations may be loosened.

7. Powell emphasized the Fed's obligation to "keep long-term inflation expectations well-anchored" and prevent one-time price increases from becoming persistent inflation problems.

8. The Fed has slowed its balance sheet reduction pace (quantitative tightening) but has no plans to stop as "reserves remain abundant."