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Wow, Powell is really tough! Now it's a bit difficult for a rate cut in September, and Powell even mocked Trump, saying the beautiful tax law is useless... Here are the key points from Powell's speech:
Powell: It is still too early to assess the impact of tariffs on inflation.
The impact of tariffs on consumer prices is beginning to become apparent.
The expected (subsequently released) inflation data will reflect more of the tariff impact.
The process of tariffs being passed on to prices may be slower than previously anticipated.
It can be said that the Federal Reserve will view inflation (tariffs) as subdued through "not raising interest rates."
I do not believe that the fiscal policies related to the "Big Beautiful Tax Law" have any particularly stimulative effects.
We do not consider the cost of changes in government (debt) interest rates.
#美联储维持利率不变#