Summary of Jerome Powell's speech on Wednesday

Highlights from the Federal Reserve Chairman's Press Conference

 

_ Economic activity has slowed significantly.

_ Many indicators show a slowdown in the labor market.

_ Inflation expectations have been raised until the end of the year due to tariffs.

_ We have decided to maintain a neutral monetary policy for now.

_ Demand for workers has declined sharply (the unemployment rate is rising).

_ Inflation risks are beginning to subside and stabilize, so we cut by 25 basis points.

_ There was insufficient data to support a 50 basis point cut.

_ The labor market has begun to slow.

_ The labor market has declined due to immigration laws.

_ The 2% inflation target is expected to be reached in 2028.

_ We could raise interest rates again if prices continue to rise due to tariffs.

_ Ten members expected two rate cuts during the year.

_ I emphasize the independence of the Federal Reserve, and all decisions are based on data.

_ We are recording a high rate of investment in artificial intelligence.

_ I will not comment on any political official's opinion; we are only following the data.

_ We are uncertain about whether artificial intelligence will impact employment.

_ There are no updates regarding my departure from my position.