Powell: Expect tariff-driven price increases to continue this year and next

POWELL: INFLATION HAS RISEN RECENTLY, REMAINS SOMEWHAT ELEVATED Fed Chair Powell: Inflation Has Risen Recently, Remains Somewhat Elevated - Moderation In GDP Growth Largely Reflects Consumer Spending Slowdown - Payroll Job Gains Have Slowed Significantly, Reflecting Lower Immigration, Lower Participation Fed's Powell: Inflation for goods has picked up, disinflation for services continuing. Fed's Powell: Beyond next year most inflation-expectation measures consistent with 2% goal. Fed’s Powell Says Individual Forecasts Are Not A Plan; Policy Not On A Preset Course

In conjunction with the Federal Open Market Committee (FOMC) meeting held on September 16–17, 2025, meeting participants submitted their projections of the most likely outcomes for real gross domestic product (GDP) growth, the unemployment rate, and inflation for each year from 2025 to 2028 and over the longer run. Each participant’s projections were based on information available at the time of the meeting, together with her or his assessment of appropriate monetary policy—including a path for the federal funds rate and its longer-run value—and assumptions about other factors likely to affect economic outcomes. The longer-run projections represent each participant’s assessment of the value to which each variable would be expected to converge, over time, under appropriate monetary policy and in the absence of further shocks to the economy. “Appropriate monetary policy” is defined as the future path of policy that each participant deems most likely to foster outcomes for economic activity and inflation that best satisfy his or her individual interpretation of the statutory mandate to promote maximum employment and price stability *FED’S MEDIAN RATE FORECAST END-’28 AT 3.1% *FED’S MEDIAN RATE FORECAST END-’26 AT 3.4%; PREV. 3.6% *FED’S MEDIAN RATE FORECAST END-’27 AT 3.1%; PREV. 3.4% *FED’S MEDIAN RATE FORECAST END-’25 AT 3.6%; PREV. 3.9% *FED’S MEDIAN RATE FORECAST LONGER-RUN AT 3%; PREV. 3.0% Dot plot forecasting two more rate cuts this year. The #Fed decreased the fed funds rate by 25bps as expected. In the dot plot, a majority of policymakers see 2 cuts in 2025. pic.twitter.com/Hn1tr3OT5i MORE FOMC: DOT PLOT SHOWS ONE PARTICIPANT WANTED FIVE MORE RATE CUTS THIS YEAR, PRESUMED TO BE MIRAN; UNCERTAINTY 'REMAINS ELEVATED' #FOMC #FederalReserve #economy

Fed’s Powell Says No Broad Support For 50 Bps Cut; No Need To Move Quickly On Rates, Waiting Was The Right Call Fed's Powell: Risk of higher inflation are less than they were in April. Fed Chair Powell: Could Think Of Today's Cut As A Risk Management Cut Fed's Powell: Not all of what is happening in the labor market is due to immigration. There's a clear slowing in demand. Fed Chair Powell: Our Job Is To Make Sure It Is A One-Time Rise In Inflation, And We Will Do That Job - Case For There Being A Persistent Inflation Outbreak Are Less

POWELL: 'PEOPLE MORE AT THE MARGINS' HAVING HARD TIME FINDING JOBS Fed's Powell: If start to see layoffs, that could quickly push up unemployment because hiring rate low. That's one reason we think it's appropriate to shift policy focus toward a more balanced one. Fed’s Powell Says Policy Shift Toward Balance Is Appropriate; Emphasizes Data-Dependent, Meeting-By-Meeting Approach Powell: We have 10 participants who wrote down 2 more cuts for the rest of the year and 9 saw less than that pic.twitter.com/rh2ezTnNrc Fed’s Powell Says Divide On Rate Path Reflects Differing Economic Views And Policy Judgments; Calls Wide Dispersion Natural In Current Situation

Fed's Powell: Annual jobs revision almost exactly what we expected. Fed's Powell: Data we get from BLS is still good enough to do our work. Issues with data right now are about low response rates. Fed’s Powell Says Fed Will Not Make Decisions Based On Politics; Declines To Comment On Cook’s Court Case Fed Chair Powell: Don't Know That Quarter Point Cut Will Make A Huge Difference - Have To Look At The Whole Path Of Rates, And Expectations Powell Says Artificial Intelligence Could Contribute To Hiring Slowdown