Jerome Powell: “To the extent inflation is going up faster than people's wages, it would potentially increase poverty.”

I do think that’s right.

Tariffs this year are likely to push up prices and weigh on economic activity.

If we're going to do that successfully, we need to do it in a completely nonpolitical way, which means we don't take sides, we don't play one side against the other, we stay out of issues that are really not our bailiwick.

It is not a foregone conclusion