Summary of Powell's Speech

1. Federal Reserve Chairman Powell pointed out that potential tariffs may have a lasting impact on inflation, and the Fed needs to keep inflation expectations stable.

2. Powell stated that economic growth is strong, but there are high risks of rising unemployment and worsening inflation, making the outlook highly uncertain.

3. He emphasized that now is a good time to assess the economic situation, and the Fed will take a wait-and-see approach, awaiting clearer policy impacts.

4. Powell mentioned that tariffs could lead to price increases in the short term, and this effect might be more enduring.

5. He also noted that the independence of the Fed is crucial and should not engage in topics not allocated to it.