POWELL SPEECH HIGHLIGHTS:
Fed Chair Jerome Powell drops major insights:
- Tariffs have a bigger economic impact than expected.
- Effects may push the Fed away from its goals
- Tariff shock = higher inflation + higher unemployment
- Fed’s role is to contain it to a one-time price spike
On Markets & Policy:
- "Markets will likely see continued volatility"
- "Inflation remains too high — delays expected"
- Fed now expects rate easing in 2025
- Trump’s tariffs could force the Fed to act even more aggressively
On Crypto:
- Loosening of crypto banking rules likely
- Stablecoin regulation is a good idea
- Crypto is becoming more mainstream.
