#PowellRemarks PowellRemarks The Federal Reserve held interest rates steady at 4.25–4.50% at its June meeting, while signaling two potential quarter‑point cuts later in 2025. Powell cautioned that import tariffs—set to resume in July—will likely drive “meaningful” inflation, stressing someone must ultimately bear those added costs . He emphasized a data‑dependent approach, warning against leaning on projections and highlighting uncertainty from tariffs, global conflicts, and economic slack . Despite political pressure for immediate cuts, Powell maintained the Fed’s independence, noting seven officials now oppose any rate reductions