Summary of comments by Federal Reserve Chairman Powell:

1. The tariff levels exceeded expectations and could lead to rising inflation and slowing economic growth.

2. It is "too early" to determine the appropriate policy path.

3. The Federal Reserve is in a favorable position to "wait for a clearer situation."

4. Tariffs may have a lasting impact on inflation.

5. The impact of tariffs on the economy is greater than expected.

6. It is essential to ensure that rising prices do not lead to persistent inflation.

A few minutes ago, President Trump called for Federal Reserve Chairman Powell to lower interest rates immediately.