Powell: Modestly restrictive policy seems appropriate

Fed's Powell: Most measures of longer-run inflation expectations are consistent with the Fed's goal. Fed's Powell Says Tariffs Affect Some Products, But Overall Effect Is Unknown. Fed's Powell: A reasonable base case is a short-lived tariff inflation impact. Fed's Powell: Possible inflationary effects could be more persistent. Federal Reserve's Powell States Current Policy Stance Is Suitable To Protect Against Inflation Risks, Plans To Complete Policy Review By Late Summer

POWELL: CURRENT STANCE OF POLICY LEAVES US WELL POSITIONED POWELL: INFLATION SOMEWHAT ABOVE TARGET Fed's Powell: Indicators suggest economic growth has moderated. Fed's Powell: Moderation in growth reflects slowdown in consumer spending. Fed's Powell States Unemployment Remains Low Within Narrow Range, Indicators Show Job Market Is Close To Maximum Employment.

The White House announced on Wednesday that President Donald Trump officially imposed a new 40% tariff on Brazil on top of the 10% already in force. "Today, President Donald J. Trump signed an Executive Order implementing an additional 40% tariff on Brazil, bringing the total tariff amount to 50%, to deal with recent policies, practices, and actions by the Government of Brazil that constitute an unusual and extraordinary threat to the national security, foreign policy, and economy of the United States," the statement read. Trump first announced he would hit the South American nation with the added figure on July 9, citing the prosecution of former President Jair Bolsonaro as the motive. US Says New Tariff On Brazil Imports Takes Effect In 7 Days

Fed's Powell: You don't see a weakening in the labor market. Fed's Powell: Demand and supply for workers are coming down at about the same rate. Fed's Powell: The main number you have to look at is the unemployment rate. Fed's Powell: Decline in labor supply and demand suggests downside risk. Fed's Powell on the dissents: What you want is a clear explanation, and we had that today. People thought carefully about this and put their positions out there.