Jerome Powell: “it is also possible that the effects could be more persistent”

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.

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

If any administration finds a way to remove Fed officials over policy differences, then future administrations will do so as well.

We may approach that point in coming months