#PowellRemarks

Here’s a refined summary of Fed Chair Jerome Powell’s remarks from the June 18, 2025 press conference:

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📊 Fed Decision & Outlook

The Federal Reserve kept rates steady at 4.25–4.50%, signaling a cautious stance amid persistent uncertainty .

Officials maintained expectations for two rate cuts later in 2025, though seven voters now prefer no cuts—highlighting internal debate .

🔍 Inflation & Tariff Commentary

Powell cautioned that tariffs are starting to push up consumer prices, suggesting those costs are “coming through” and warning of “meaningful” inflation ahead .

He emphasized that someone—ultimately the consumer—will bear tariff-related costs and that inflationary effects could be persistent .

🏦 Labor Market & Economy

Powell noted the U.S. economy is “in a solid position,” with low unemployment (~4.2%) and a stable labor market not significantly fueling inflation .

Growth slowed to ~1.4% in 2025, per Fed projections—down from ~2.5% in 2024—with ripples in GDP partly due to “front-loading” ahead of tariffs .

🧭 Monetary Strategy & Outlook

Powell emphasized the Fed’s data-driven approach, stating they’re “well positioned to wait to learn more” before adjusting policy .

The Fed continues to reduce its balance sheet and is reviewing its long-term framework, with possible updates this late summer .

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Overall tone: A cautiously hawkish pause—the Fed held rates steady while warning of rising inflation pressures from tariffs, keeping the door open for rate cuts later if economic conditions ease in line with their projections.

Let me know if you’d like a deep dive into the official transcript, policy projections, or how markets reacted.