#PowellRemarks Here are the key takeaways from Federal Reserve Chair Jerome Powell’s remarks after the June 18 FOMC meeting:

🎙️ Powell’s Press Conference Highlights

Tariff-induced inflation incoming

Powell emphasized that recent and planned tariffs will push inflation higher.

“Everyone … is forecasting a meaningful increase in inflation in coming months from tariffs … ultimately, the cost of the tariff has to be paid, and some of it will fall on the end consumer.”

Caution on rate path

He stressed that the Fed’s dot-plot projections are not set in stone and policy will remain data-dependent.

“No one holds these … rate paths with a great deal of conviction, and everyone would agree that they’re all going to be data-dependent.”

Need more data before acting

Powell made it clear the Fed will wait several months to assess the lagged impact of tariffs and latitude in labor and inflation trends.

“We’ll make smarter and better decisions if we just wait a couple of months … to get a sense of really what is going to be the pass‑through of inflation.”

Independent Fed from political pressure

Amid calls from President Trump for immediate cuts, Powell reaffirmed that policy decisions are guided by economic data—not politics.

Blue-sky risks: geopolitics & tariffs

He pointed to risks from Middle East tensions and evolving tariff scenarios as reasons to stay vigilant.

Broader economic outlook

He noted that growth is slowing (GDP ~1.4%), unemployment slightly rising (~4.5%), and inflation projected near 3% year-end—well above the 2% target.

FOMC Press Conference June 18, 2025 – Chair Powell Opening Remarks

Feel free to watch the full clip above for the full context and tone.