Jerome Powell's Highlights on Wednesday.

_ Interest rates exceed the 2% target. 

_ Longer-term inflation expectations are consistent with our objectives. 

_ Tariffs so far are much higher than expected.

_ The impact of Trump's policies on inflation may be temporary. 

_ If significant tariff increases continue, we will see higher inflation.

_ Trade talks could completely change the economic landscape. 

_ The U.S. economy could worsen due to tariffs.

_ The U.S. economy is at risk of stagflation after the Federal Reserve announced it would hold interest rates for the third time in 2025.

_ President Trump's attempt to cut interest rates is not affecting us. 

_ I cannot confidently say I know the appropriate path for interest rates.

_ There are instances when a rate cut is appropriate this year.