Powell: Annual jobs revision almost exactly what we expected

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 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: EXPECT TARIFF-DRIVEN PRICE INCREASES TO CONTINUE THIS YEAR AND NEXT Fed's Powell: It's possible tariffs are a reason for some slowing in labor market. Fed's Powell: Increase in goods prices accounts for most of inflation increase this year. *POWELL: REVISED JOBS NUMBERS MEAN LABOR MARKET NO LONGER SOLID Fed's Powell: Change in balance of risks suggests need to move in direction of neutral.

Fed’s Powell Says Tariffs Mostly Paid By Middlemen Firms; Notes They Intend To Pass On Higher Costs But Haven’t Yet Fed's Powell: I think goods inflation is contributing 0.3 or 0.4 to PCE inflation. Fed’s Powell Says Goods Inflation Was Generally Negative Over Past 25 Years; Now Running At 1.2% Over The Past Year Fed’s Powell Says Economy Isn’t Bad, But Policy Decisions Remain Challenging Powell Says "Breakeven Rate For Job Growth Has Clearly Come Way Down"

Fed Chair Powell: It's The Risks To Labor Market That Were Focus Of Today's Decision Federal Reserve Chair Powell Says This Week's Data Indicates Consumer Spending Is More Robust Than Predicted Fed's Powell: Would need big Fed rate changes to matter for housing sector. Fed Chair Powell: Besides The Outlier Of UMICH Survey, Longer-Term Inflation Expectations Have Been Rock Solid