Wow, Powell is really tough! Now it's a bit difficult to cut interest rates in September, and Powell even mocked Trump, saying that the beautiful tax law is useless... Here are the key points from Powell's speech:


Powell: It's still too early to judge the impact of tariffs on inflation.
The impact of tariffs on consumer prices is beginning to show.
The upcoming inflation data is expected to reflect more tariff impacts.
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 (tariff) inflation as subdued by 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.
TRUMP-4.7%
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