#PowellRemarks Here’s a summary of Chair Powell’s key remarks from the June 18 FOMC meeting:

Rates unchanged, yet hawkish tone: Powell and the Fed held interest rates steady at 4.25–4.50% for a fourth consecutive time. Although they still forecast two rate cuts before year-end, those expectations have been trimmed .

Warning: inflation on the way: He emphasized that tariffs—especially new ones—are expected to boost prices in the coming months, and that consumers will ultimately bear that cost .

Economic uncertainty remains high: Powell repeatedly noted persistent uncertainty around trade policies, geopolitical tensions, slowed growth, and shifting labor market dynamics—stating the forecasts current are the “least unlikely path” .

No rush to cut: He stressed patience, saying the Fed is “well‑positioned to wait” and will rely heavily on incoming data—especially to assess tariff effects and inflation trends—before any policy pivot .

Data infrastructure matters: Powell highlighted the importance of robust economic data, warning that reductions in government data collection could impair the Fed’s ability to set policy effectively