Jerome Powell actually said...

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

As long as the economy is in solid shape, we think the prudent thing to do is to wait and see what those effects might be.

I want to hand over to my successor an economy in good shape.

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 materi...