Jerome Powell actually said...

I would just say our own job is to focus not on fiscal policy, but on monetary policy, and so that is our frame of reference.

Powell clarifies the Federal Reserve's focus on monetary policy rather than fiscal policy.

02/26/2018

More Jerome Powell Quotes

For the time being, we are well positioned to wait for greater clarity.

The same is likely to be true of the economic effects, which will include higher inflation and slower growth.

There isn’t a modern experience of how to think about this.

Unemployment is likely to go up as the economy slows.