#PowellRemarks

Jerome Powell made statements warning of the risks of reducing government spending on economic data collection, noting that this could weaken the Federal Reserve's ability to make informed decisions. He confirmed that current data is sufficient, but expressed concern about reducing staff in institutions like the Bureau of Labor Statistics, which threatens the accuracy of tracking inflation (CPI). He also emphasized the importance of data as a public service that supports the government, businesses, and individuals. These warnings come as interest rates are held steady at 4.25–4.50%, with expectations of two cuts by the end of the year, but Powell warned of future inflationary pressures due to trade tariffs and geopolitical disruptions.