Federal Reserve Chair Jerome Powell delivered a speech today at the Federal Reserve Board's International Finance Division 75th Anniversary Conference in Washington, D.C.

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During his remarks, Powell addressed the current state of the U.S. economy and monetary policy, emphasizing the dual mandate of the Federal Reserve to promote maximum employment and stable prices.

Powell highlighted that despite economic uncertainties and downside risks, the U.S. economy remains in a solid position, with the labor market at or near maximum employment levels.

He also noted that inflation has decreased significantly but is still slightly above the Federal Reserve's 2% target.

Regarding interest rates, Powell indicated that the Federal Reserve will remain patient and wait for more data to clarify the economic situation before making any changes to interest rates.

He mentioned that the impact of President Donald Trump's tariffs and other economic policies will be considered in future decisions.

Additionally, Powell emphasized the importance of maintaining long-term inflation expectations to prevent a sustained rise in prices.

He stated that the Federal Reserve's responsibility is to ensure that a temporary increase in the price level does not become a persistent inflation issue.

In summary, Powell's speech focused on the current economic outlook, the importance of stable prices, and the cautious approach to interest rate adjustments in light of ongoing economic uncertainties.

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