#PowellRemarks Trump says🤥 ‘stupid’ Powell ‘probably won’t cut’ rates when Fed meeting ends Wednesday🤪

❗️ Powell at FOMC press conference:

⚪️ It remains to be seen how sentiment will affect consumer spending.

⚪️ The current MPC is well prepared for contingencies.

⚪️ Short-term inflation expectations have risen recently.

⚪️ A tariff increase is likely to put pressure on economic activity and trigger higher inflation.

⚪️ Our responsibility is to prevent a one-time price increase from becoming a permanent increase in inflation.

⚪️ Fed policymakers' forecasts are subject to uncertainty, which is unusually high.

⚪️ We've had 3 months of favorable inflation numbers, and that's good news.

⚪️ The Fed now has every reason to wait before considering a rate change.

⚪️ The peak of uncertainty has passed, the level of uncertainty has started to decline.

⚪️ We will probably get to the point where a rate cut is appropriate.

⚪️ We will make a more sensible decision if we wait a couple of months.

⚪️ Compared to September 2024, when we cut rates, this year's inflation forecast assumes inflation will rise because of rates.

⚪️ The labor market does not need a rate cut.