Jerome Powell, the Federal Reserve Chair, has made several notable remarks recently. Here are some key points¹ ² ³:

- *Interest Rates*: Powell's comments suggest that the Federal Reserve is cautious about cutting interest rates, citing concerns about inflation and trade tensions. Trump has criticized Powell for being too slow to cut rates, calling him "too late Powell".

- *Economic Policy*: Powell emphasized that the central bank must ensure tariffs don't trigger a more persistent rise in inflation. He also highlighted the importance of integrity and public service, urging graduates to prioritize doing what's right.

- *Response to Trump*: Powell has defended the Federal Reserve amid Trump's criticism, praising government employees and universities. Trump has expressed dissatisfaction with Powell's performance and joked about appointing himself to lead the Federal Reserve.

- *Market Impact*: Powell's remarks have impacted the market, with US stocks slumping after his comments on trade tensions and inflation. The S&P 500 Index fell 2.2%, and the Nasdaq 100 Index slumped 3%.

Some specific quotes from Powell include⁴:

- "The economy is stronger now than the central bank had expected... and appeared to signal his support for a slower pace of interest-rate cuts ahead."

- "As you move forward in a world full of bright opportunities, I urge you to meet the challenges and seize the opportunity to serve your fellow citizens... integrity is everything you have. Please protect it carefully."#PowellRemarks