#PowellRemarks

Jerome Powell’s latest comments make it clear: the Federal Reserve isn’t in a hurry to make big policy shifts. At the June 17–18 FOMC meeting, rates were kept steady at 4.25%–4.50%, marking the fourth pause this cycle  . Powell emphasized that the Fed needs “to learn more” before making moves—especially given ongoing trade, tariff, and fiscal uncertainties . He noted that increases in tariffs could boost inflation and slow growth, underlining the unpredictable chain reaction from manufacturers to consumers .

In press remarks, Powell highlighted that inflation has already nudged above 2%, and those tariff costs ultimately end up with consumers . He warned that dual-mandate tensions—balancing price stability with maximum employment—require close monitoring, and the Fed must evaluate which objective is further from target if conflict arises .

He also flagged concerns about government data quality, calling statistics a “public good.” Powell cautioned that cuts to agencies like the BLS could impair the Fed’s ability to make informed decisions .

Finally, the Fed’s dot-plot still hints at two possible rate cuts by year-end, but Powell downplayed its reliability, saying forecasts are “foggy” and uncertain .

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Bottom line: Powell signals patience. The Fed will wait for clarity on tariffs, inflation, growth, and data before adjusting rates. Pundits now expect the first cut around September, if conditions allow . Until then, it’s a “higher‑for‑longer” environment with a focus on robust economic data—a call for caution tempered by flexibility.