#PowellRemarks

Federal Reserve Chair Jerome Powell recently spoke about the economic outlook, highlighting a solid growth pace and a labor market in balance. Key points from his remarks include [8Z1]:

- *Economic Growth*: The economy is experiencing solid growth, with GDP expanding at a 2.3% annual rate in the fourth quarter of last year.

- *Labor Market*: The labor market is solid, with employers adding 151,000 jobs to payrolls in February and an unemployment rate of 4.1%.

- *Inflation*: Inflation has declined sharply from its pandemic highs but remains above the 2% target, with total PCE prices rising 2.5% over the 12 months ending in February.

- *Monetary Policy*: The Fed is closely monitoring the economy and is well-positioned to deal with risks and uncertainties, including the effects of higher tariffs on inflation and growth.

- *Tariffs and Trade*: Powell emphasized the uncertainty surrounding the economic effects of higher tariffs, which could lead to higher inflation and slower growth.

Powell's remarks also touched on the importance of maintaining low and predictable inflation, as well as the Fed's commitment to achieving its dual-mandate goals of maximum employment and stable prices.