Jerome Powell: “Our best expectation is there will be modest upward pressure on prices this year, but they won't be particularly large…”

As long as the U.S. economy is in solid shape, the prudent thing to do is to wait and learn more and see what the effect might be.

Rising downside risks to employment have shifted our assessment of the balance of risks

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

we don’t take into consideration political factors