Jerome Powell

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

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.

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

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

What keeps me awake at night is how do we get that done? I want to hand over to my successor an economy in good shape, and so do all of my colleagues, that's all we ever want.

I do think that’s right.

I'm very focused on just doing my job.

As long as the U.S. economy is in solid shape, the prudent thing to do is to wait and learn more and see what the effect might be.

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.

I have a little more than 10 months left on my term as chair, and all I want, and all anyone at the Fed wants, is to deliver an economy that has price stability, maximum employment, financial stability.

I think that's right

I’m very focused on just doing my job.

we don’t take into consideration political factors

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

Part of that is due to the start-stop nature of the tariffs that have been introduced.

the economy was 'in solid shape'

The U.S. economy was in solid shape, but warned of very high uncertainty due to the impact of tariffs.

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

If we make a mistake, people will pay the cost for a long time.

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

The threat of worsening inflation, plus the uncertainty Trump has generated through his trade war and immigration policies, are causing the Fed to adopt a wait-and-see approach.

It would be inappropriate for us to comment on the policy of tariffs.

For the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance.

I wouldn’t want to point to a particular meeting. I don’t think we need to be in any rush because the economy is still strong.

We will get to a place where we cut rates.