#PowellRemarks Fed updated rates to 4.25–4.5% and indicated possible two cuts this year, but the voting showed discrepancies among members #PowellRemarks. Jerome Powell emphasized the "significantly rising" inflation due to tariffs and international uncertainty, especially in the context of conflicts and U.S. tariff policy. He also noted that the labor market is strong: unemployment is around 4.2%, and participation and wage growth are stable. Powell stressed the importance of data: "data is a public good," but fears that budget cuts may harm the quality of statistics. He urged to remain "cautious, sensitive to new data."