refers to the recent statements made by Federal Reserve Chairman Jerome Powell following the June 2025 FOMC meeting. Powell confirmed that interest rates will remain unchanged, although two possible cuts are expected before the end of the year, depending on economic data. He warned about inflationary risks caused by new trade tariffs and expressed concern about the quality of official data following budget cuts. Additionally, he reiterated the Fed's independence from political pressures. His words reflect caution in the face of an uncertain economic context, with persistent inflation and slower growth.