🔵 Key points from Jerome Powell's speech so far

🟢 We are at or near maximum employment, and inflation is slightly above the 2% target, having declined significantly.

🟢 Personal consumption expenditures likely rose by 2.3% in the 12 months to March, with core personal consumption expenditures estimated at 2.6%.

🟢 The labor market is strong and broadly balanced and does not contribute to inflation.

🟢 The sharp decline in business and household confidence, along with rising uncertainty, reflects concerns over trade policy.

🟢 The administration's policies are still evolving, and their impacts remain largely uncertain.

🟢 We are in a good position to wait for more clarity at this time.

🟢 Our commitment is to keep long-term inflation expectations stable.

🟢 The inflationary effects of tariffs may be more enduring, ultimately depending on inflation expectations.