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💠 Jerome Powell's remarks on the financial system and reserves:
Safety of the payments system: Powell confirmed that the US Treasury's payments system is safe.
Shrinking balance sheet: He indicated that the balance sheet continues to shrink.
Tariffs: Powell confirmed that we must wait to see the adopted tariff policies, as the effects cannot be assessed yet.
Ample reserves: He confirmed that the Federal Reserve's reserves are abundant and sufficient.
Protection of the Federal Reserve Board: He explained that the law does not allow the President to remove any member of the Federal Reserve Board.
