Jerome Powell: “I strongly agree with you that trade needs to be fair as well as free.”

Overall, while the labor market appears to be in balance, it is a curious kind of balance that results from a marked slowing in both the supply of and demand for workers.

The public would lose faith that the central bank will make decisions based only on what’s best for all Americans.

I do think that’s right.

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.