The speech delivered by Federal Reserve Chairman Powell recently attracted widespread attention. He made a series of important statements regarding the current economic situation and the direction of monetary policy, including an assessment of the impact of tariffs and his views on future inflation trends.

Powell pointed out that it is still too early to determine the impact of tariffs on inflation, but the effect of tariffs on consumer prices has begun to manifest. He expects that future inflation data will reflect more of the impact of tariffs, while also stating that the process of tariffs being transmitted to prices may be slower than previously anticipated.

Regarding monetary policy, Powell hinted that the Federal Reserve may respond to potential inflationary pressures caused by tariffs by keeping interest rates unchanged. This statement seems to suggest that the possibility of a recent rate cut has decreased, attracting the attention of the market.

It is worth noting that Powell has expressed some skepticism about the effectiveness of fiscal policy. He stated that he does not believe the relevant fiscal policies have particularly significant stimulative effects. At the same time, he emphasized that the Federal Reserve will not take into account the costs associated with changes in government debt interest rates when formulating policy.

Powell's remarks not only influenced the market's expectations for future monetary policy but also sparked broad discussions about the outlook for the U.S. economy. Analysts believe that the Federal Reserve faces the challenge of balancing inflationary pressures and economic growth in the current complex economic environment, making the future direction of policy worthy of continued attention.