Jerome Powell: “We are following it very, very closely, and I think you have put your finger on it, this is a problem more for smaller…”

If we move too slowly, there may be unnecessary losses, painful losses in the employment market.

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

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 may approach that point in coming months