Janet Yellen: “Our economic recovery is on track. We are averaging half-a-million new jobs per month since January.”

I would expect inflation, on a year-over-year basis of this year, to shoot up to at least 3%, or slightly over, because of the tariffs.

I am optimistic, because I believe that the big inflationary impulse that we saw in 2022 largely was global.

The Fed does not have a 'good handle on how the tariffs are going to affect either spending in the labor market or inflation.'

The most recent and optimistic estimate I’ve seen suggested that the average household will see on the order of $1,000 reduction in income.