☝️ Key takeaways from Fed Chair Jerome Powell:

🎯 Trade tariffs are likely to lead to higher inflation.

🎯 The future remains highly uncertain, and risks to employment and inflation are elevated.

🎯 The Fed does not need to rush into action.

🎯 Inflation is already closer to its 2% target, but still slightly above.

🎯 Progress toward the 2% inflation target has slowed.

🎯 The Fed does not have its own recession forecast, but external assessments indicate an increased probability.