Asking if Fed is okay with 3% inflation for now given three rate cuts this year, as long as commitment to 2% remains.
Victoria Guida
Jerome Powell
Committed to 2% inflation and will deliver it, but facing complicated situation with labor market under pressure and job creation possibly negative.
Jerome Powell
Without tariffs, inflation is in low 2s; tariffs causing most of inflation overshoot, likely a one-time price increase.
Jerome Powell
Previously could focus entirely on inflation when labor market was strong; now different with risks to both sides.