Jerome Powell: “It’s not the Fed’s job to make or comment on tariff policy. That’s for elected people, and it’s not for us to comment.”

Job growth, he said, has slowed considerably and that the downside risks to employment are rising.

What keeps me awake at night is how do we get that done? I want to hand over to my successor an economy in good shape, and so do all of my colleagues, that's all we ever want.

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

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.