Jerome Powell: “I can say no other federal regulator.”

There are no new water features, there’s no beehives, and there’s no roof terrace gardens

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.

we don’t take into consideration political factors

the outlook for employment and inflation does not appear to have changed much since our September meeting