#PowellRemarks

Here’s a refined summary of Jerome Powell’s most recent remarks (June 18–19, 2025):

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🔹 Hawkish & Cautious: Inflation First

The Fed held rates steady at 4.25–4.50%, prioritizing data over political pressure to cut—despite calls from President Trump to lower rates .

Powell warned that tariffs are feeding into inflation, and costs will eventually land on consumers .

🔹 Economic Outlook: Uncertain, “Foggy”

He described the economic forecast as “foggy”, citing weak labor supply, slower GDP, and global risks—especially from tariff policies .

The Fed revised growth projections down (2025 GDP trimmed to ~1.4%) while pushing core inflation up (~3.1%) .

🔹 No Rush to Cut, Data‑Dependent Policy

Powell emphasized there's no preset course, and the Fed isn't in a hurry to cut rates—waiting for fresh data, particularly on tariff impacts .

Markets are now forecasting only one rate cut this year, likely in September, down from earlier expectations of two .

🔹 Market & USD Reactions

The U.S. dollar strengthened, reflecting safe‑haven flows and concern over global uncertainty .

Equities dipped during Powell’s press conference, with chip stocks and broader tech under pressure due to tariff‑linked inflation warnings .

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