Jerome Powell said...

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

The things that are sold at retail now might have been put into inventory before the tariffs, so we think we should see ...

So we didn't overreact — in fact, we didn't react at all. We're simply taking some time.

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