On the recordMarch 7, 2023
We are going to guard that border carefully, and we are going to stick to our role and not try to be policymakers.
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congress.govWe are going to guard that border carefully, and we are going to stick to our role and not try to be policymakers.
Powell reassures that the Fed will avoid overstepping into climate policy.
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If we're going to do that successfully, we need to do it in a completely nonpolitical way, which means we don't take sides, we don't play one side against the other, we stay out of issues that are really not our bailiwick.
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.