#PowellRemarks Here are the key highlights from Fed Chair Jerome Powell’s remarks after the June 18, 2025 FOMC meeting:

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📌 Main Takeaways

1. **Rates held steady (4.25–4.50%)**

Powell emphasized that while the benchmark stays unchanged for the fourth consecutive meeting, the Fed is in no rush to cut. Future moves will be data-driven, not on a preset schedule .

2. Economic uncertainty rising

He cited tariff-driven inflation as a concern and said the Fed needs more clarity on how trade policies impact price stability before adjusting rates .

3. Concern about data accuracy

Powell warned that budget cuts at agencies like the BLS threaten the Fed’s ability to gather reliable data—a “public good”—and said insufficient data makes decision-making riskier .

4. Market reaction

Stock markets initially dipped during his remarks, as investors absorbed the Fed’s cautious tone. Powell’s stance—"not hurrying to cuts"—spooked markets .

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🔍 Interpretation

Delayed rate cuts: The Fed still anticipates two rate cuts this year, but that outlook is weakening—seven of 19 officials now expect no cuts in 2025 .

Tariffs matter: Powell repeatedly noted that inflation from tariffs remains transitory, but persistent enough to slow down any move toward rate relief .

Focus on data quality: With economic measurement in question