Jerome Powell: “No one should assume that the fed can really protect the economy and the financial system, or our reputation globally…”

Stopping sooner could have made some difference, but not likely enough to fundamentally alter the trajectory of the economy

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.

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

I haven’t heard that.