#PowellRemarks

📢 Federal Reserve Chair Jerome Powell announced that interest rates would remain unchanged, marking the fourth consecutive hold this year. He highlighted that recent tariff increases are likely to elevate inflation and suppress economic growth, stating, “Someone has to pay for the tariffs.” With inflation rising to 2.4% in May, surpassing the Fed’s 2% target, Powell emphasized the Fed's commitment to its dual mandate of maximum employment and price stability. Despite political pressures, he reaffirmed the Fed's independence, asserting that monetary policy decisions will be guided solely by objective economic data.