Jerome Powell: “Everyone that I know is forecasting a meaningful increase in inflation in coming months from tariffs.”

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

If we move too quickly, then we may leave the inflation job unfinished and have to come back later and finish it.

We do not take into account the fortunes of any political party or politician.

We may approach that point in coming months