SUMMARY OF FED CHAIR POWELL'S STATEMENT (07/05/2025):

- Unusual fluctuations in trade complicate GDP measurement

- Short-term inflation expectations are rising

- The announced tax levels are much higher than expected

- Controlling inflation will depend on the size and timing of tax implementation

- The FED still has "time to wait" before adjusting policy

- Surveys indicate that tariffs are a key factor driving up inflation expectations

👉 Powell is currently not considering a rate cut.