#PowellRemarks

Interest rates unchanged: The Federal Reserve kept rates between 4.25% and 4.50% for the fourth consecutive meeting, forecasting two cuts during 2025, although there is an increasing possibility that there will be less than two or even none.

Powell reminded that these forecasts do not reflect a firm conviction: "No one holds these rate paths with a great deal of conviction."

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📈 Inflation risk from tariffs

"Everyone … is forecasting a meaningful increase in inflation … from tariffs," warned Powell, anticipating that the implemented tariffs could lead to a significant price increase in the coming months.

He noted that these effects could be transitory or persistent, and will depend on the scope and duration of the tariffs.