#PowellRemarks

Chair Jerome Powell announced the Fed would hold rates at 4.25–4.50%, stressing patience amid evolving economic conditions. He cautioned that inflation could rise due to tariffs, noting “someone has to pay for the tariffs”—consumers are likely to bear some of that cost . Powell underscored the forecasts of two cuts this year, but urged reliance on incoming data, stating projections lacked conviction . He also warned that reductions in statistical agencies risked compromising data quality, which is critical for informed policymaking.