#PowellRemarks Federal Reserve Chair Jerome Powell, in his latest remarks, confirmed the decision to hold interest rates steady at 4.25–4.50%, citing persistent inflation and global uncertainties. Despite solid labor market data, Powell emphasized that inflation remains above the 2% target, describing progress as uneven. He also warned that recent tariffs could raise consumer prices in the coming months. The Fed revised its GDP growth forecast for 2025 to 1.4% and inflation to nearly 3%. Powell reiterated the central bank's independence, stressing a data-driven approach regardless of political pressure. Rate cuts are unlikely before September, as the Fed waits for clearer signs from inflation and economic activity. Markets responded cautiously.