#PowellRemarks

**Powell Remarks Briefing:**

* **Patience on Cuts:** Powell emphasized the Fed needs greater confidence inflation is moving "sustainably" toward 2% before cutting rates. Progress has stalled recently.

* **Data-Dependent:** Future decisions remain meeting-by-meeting, based on incoming inflation, labor market, and growth data. No preset path.

* **Strong Labor Market:** He noted continued job market strength but acknowledged signs of gradual cooling.

* **Hawkish Hold:** While holding rates steady, Powell signaled cuts are unlikely until disinflation progress resumes convincingly. The current policy stance is restrictive.

* **No Urgency:** The Fed believes it has time to wait for clearer signals; cutting too soon risks undermining progress. Rate cuts require "greater confidence" inflation is controlled.

**Key Phrase:** "Greater confidence" needed on inflation before easing policy.