#PowellRemarks

Federal Reserve Chair Jerome Powell recently delivered remarks at Princeton University's baccalaureate ceremony and other events, sharing insights on the economy, monetary policy, and public service. Here are some key points from his remarks ¹ ²:

- *Economic Uncertainty*: Powell noted that the economy is experiencing uncertainty, citing the need for the Federal Reserve to carefully consider its policy decisions. He emphasized that the Fed wants to see how economic forces interact before making significant moves.

- *Interest Rates*: The Fed has kept interest rates steady at 4.25%-4.5% and expects two more rate cuts in 2025, bringing the federal funds rate to 3.75%-4% by year-end.

- *Public Service*: Powell encouraged the Princeton University class of 2025 to consider public service, highlighting its importance in shaping the country's future. He emphasized that public service is a vital way to make a positive impact and preserve democracy.

- *Risk Management*: Powell stressed the importance of taking calculated risks and learning from mistakes. He shared his own experiences, noting that taking risks and facing challenges can lead to significant opportunities and personal growth.

- *Economic Outlook*: Powell expressed optimism about the economy's resilience, citing low unemployment rates and the Fed's efforts to maintain price stability. However, he also acknowledged potential challenges and uncertainties, emphasizing the need for careful consideration and adaptability.

Some notable quotes from Powell's remarks include ¹:

- "From everyone who has been given much, much will be demanded." (Gospel of Luke)

- "Your life matters—to the people you love and to the broader world."

- "The combination of luck, the courage to make mistakes, and a little initiative can lead to much success."