00:00Federal Reserve Chair Jerome Powell stressed the Fed's primary duty is to prevent a temporary inflation spike driven in part by new tariffs from becoming more persistent.
00:09Powell said it's critical to, quote, keep longer term inflation expectations well anchored, end quote.
00:15With interest rates held steady at the Fed's recent meeting, Powell emphasized the central bank would wait for greater clarity on the economic fallout before making policy adjustments.
00:24Powell defended the Fed's independence amid political criticism, insisting decisions are grounded in economic data, not external pressures.
00:33Looking ahead, the Fed retains forecasts for two interest rate cuts by the end of the year, but remains cautious and data dependent.
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