Jerome Powell
speaker
737 appearances
119 recordings
38 series
first heard Mar 2018
last heard 11 Jun
Jerome Powell’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 68 in all, peaking in Jan 2026 with 43.
Appearances
It's difficult for a central bank because higher unemployment would call for speeding up the economy and higher inflation would call for slowing it down.
Tariffs are highly likely to generate at least a temporary rise in inflation. It's also possible that the effects could be more persistent. Our obligation is to keep longer-term inflation expectations well anchored and to make certain that a one-time increase in the price level does not become an ongoing inflation problem.
We've taken a step back and we're watching to see what the policies turn out to be and the ways in which they will affect the economy, and then we'll be able to act. Fortunately, our policy stance is in a good place for us to do that.
While uncertainty remains elevated, it is now becoming clear that tariff increases will be significantly larger than expected. And the same is likely to be true of the economic effects, which will include higher inflation and slower growth. The size and duration of these effects remains uncertain.
While tariffs are highly likely to generate at least a temporary rise in inflation, it's also possible that the effects could be more persistent.
Clearly some of it, a good part of it, is coming from tariffs. President Trump doesn't like it.
Clearly some of it, a good part of it, is coming from tariffs.
We will be watching very carefully for signs of weakness in the real data. Of course we will. But given where we are, we think our policy is in a good place to react to what comes, and we think that the right thing to do is to wait here for greater clarity about what the economy is doing.
I do think with the arrival of the tariff inflation, further progress may be delayed. The SEP doesn't really show further downward progress on inflation this year, and that's really due to the tariffs coming in.
In our summary of economic projections, the median participant projects GDP to rise 1.7 percent this year, somewhat lower than projected in December. and to rise a bit below 2% over the next two years.
Growth looks like it's maybe moderating a bit, consumer spending moderating a bit, but still at a solid pace. Unemployment's 4.1%. Job creation most recently has been at a healthy level. Inflation has started to move up now, we think partly in response to tariffs, and there may be a delay in further progress over the course of this year. So that's the hard data. Overall, it's a solid picture.
Looking ahead, the new administration is in the process of implementing significant policy changes in four distinct areas. Trade, immigration, fiscal policy, and regulation. It is the net effect of these policy changes that will matter for the economy and for the path of monetary policy.
While there have been recent developments in some of these areas, especially trade policy, uncertainty around the changes and their likely effects remains high. As we parse the incoming information, we are focused on separating the signal from the noise as the outlook evolves. We do not need to be in a hurry, and we are well positioned to wait for greater clarity.
The Dan Bongino Show · The Bongino Brief - Doge's Next Target Has Been Identified!!! · 15 Feb 2025
podcast
Law changes, no. I'm not aware of any law changes.
Not that I'm aware of.
Well, they'd have all the regulators except for the CFPB.
If, in fact, in the hypothetical, the CFPB weren't carrying that out.
Law changes? No, I'm not aware of any law changes.
Well, they'd have all the regulators except for the CFPB. Very good. If, in fact, in the hypothetical, the CFPB weren't carrying that out.
No, I would say that, you know, overworked, maybe not overstaffed. Everybody at the Fed works really hard. It's a place where people work.
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