#PowellRemarks Jerome Powell, Chair of the Federal Reserve, has made several notable remarks on the US economy and monetary policy. Here are some key points:

- *Economic Outlook*: Powell believes the US economy has made significant progress toward the Fed's dual-mandate goals of maximum employment and stable prices. The labor market remains in solid condition, and inflation has eased substantially from its peak.

- *Inflation*: Powell notes that inflation is running closer to the Fed's 2% goal, but it's not yet there. He emphasizes the importance of keeping inflation expectations well-anchored to prevent a one-time increase in prices from turning into an ongoing inflation problem.

- *Monetary Policy*: The Fed is carefully assessing incoming data and evolving economic conditions to determine the appropriate level of policy restraint. Powell states that the path for getting to a more neutral policy setting is not preset, and the Fed will continue to adjust policy as needed.

- *Tariffs and Inflation Risks*: Powell highlights that tariffs are likely to generate at least a temporary rise in inflation, and the Fed will closely monitor the effects of policy changes on the economy.

- *Federal Reserve Independence*: Powell emphasizes that the Fed's independence is a matter of law, and Congress has protected the Fed's statute to ensure its independence.

- *Global Economic Uncertainty*: Powell acknowledges the high level of uncertainty in the global economy and notes that businesses and households are experiencing significant uncertainty, which can affect investment and economic activity.¹ ²