Jerome Powell: “Unemployment is likely to go up as the economy slows.”

In effect, we went on hold when we saw the size of the tariffs, and essentially all inflation forecasts for the United States went up materially as a consequence of the tariffs.

I think that's right

Stopping sooner could have made some difference, but not likely enough to fundamentally alter the trajectory of the economy

The U.S. economy is in solid shape.