Jerome Powell: “What we learned in the course of the last expansion was that we could have unemployment at historically low levels…”

Part of that is due to the start-stop nature of the tariffs that have been introduced.

Everyone that I know is forecasting a meaningful increase in inflation in coming months from tariffs.

I want to hand over to my successor an economy in good shape.

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.