I thank Congresswoman Jayapal for her remarks, and I thank her for her congressional leadership as the chair of the Congressional Progressive Caucus. I thank the gentlewoman for lending her voice and vision to this very important issue. Madam Speaker, I yield to the gentleman from New York (Mr. Espaillat), who represents the Boogie Down Bronx right next door to me.
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It is likely that the impact of tariffs on inflation may take longer, be more delayed and have a smaller effect than initially expected.
Should inflation pressures remain contained, I would support lowering the policy rate as soon as our next meeting.