Jerome Powell: “Uncertainty around the changes and their likely effects remains high.”

Tariffs this year are likely to push up prices and weigh on economic activity.

I have a little more than 10 months left on my term as chair, and all I want, and all anyone at the Fed wants, is to deliver an economy that has price stability, maximum employment, financial stability.

We’re trying to deliver macro stability, financial stability, economic stability for the benefit of all the people.

As long as the economy is in solid shape, we think the prudent thing to do is to wait and see what those effects might be.