Pengerusi Federal Reserve Jerome Powell menyatakan bahawa Fed akan menunggu lebih banyak data mengenai arah ekonomi sebelum mengubah kadar faedah, sambil mengulas tentang ketidakpastian akibat perubahan dasar tarif oleh pentadbiran Trump.
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00:00U.S. Federal Reserve Chair Jerome Powell said that the Fed would wait for more data on the economy's direction before changing interest rates and characterise recent market volatility as a logical processing of the Trump administration's dramatic shifts in tariff policy.
00:17The outlook has now become extremely uncertain, Powell said, which changes in policy that don't provide businesses and economies with any clear parallels to study.
00:27The administration is, as I mentioned in my remarks, is implementing significant policy changes, and particularly trade now is the focus, and the effects of that are likely to move us away from our goals.
00:42So unemployment is likely to go up as the economy slows, in all likelihood, and inflation is likely to go up as tariffs find their way, and some part of those tariffs come to be paid by the public.
00:55So that's the strong likelihood, and, you know, my hope is that we'll get through this and get back.
01:01We're always going to be aiming for maximum employment and price stability. That's what we do.
01:05I do think we'll be moving away from those goals probably for the balance of this year, or at least not making any progress, and then we'll resume that progress as we can.
01:14When you think about supply disruptions, that is the kind of thing that can take time to resolve, and it can lead what would have been a one-time inflation shock to be extended, perhaps more persistent, and we would worry about that.
01:27In this case, you can look at the car companies, which their supply chains are likely seem to be on track to be disrupted significantly, and you would worry that that process will take some years, and that the inflationary process might be extended.
01:42So all of this is highly uncertain. We're thinking now, really, before the tariffs have their effects, how they might affect the economy, and that's why we're waiting, really, to see what the policies ultimately are, and then we can make a better assessment of what the economic effects will be.
02:00In the first public remarks on recent financial volatility, however, Powell said he felt markets were functioning well, with the swings in security values showing investors taking stock of the new landscape.
02:13On the legal case currently before the Supreme Court over President Donald Trump's firing of two Democrats from federal labor boards, Powell said he does not see it likely applying to Federal Reserve.
02:24Powell's remarks come a day after lawyers from the two individuals told the Supreme Court in filing connected to the case that allowing the dismissal of Stent leaves the independence of the Fed vulnerable.