Fed Chair Powell: We will want to see the backside of both the energy and tariff shocks before even considering rate cuts

FED'S POWELL: INFLATION ELEVATED, IN PART REFLECTING ENERGY PRICE INCREASE POWELL: CURRENT POLICY STANCE APPROPRIATE POWELL: MIDDLE EAST EVENTS CONTRIBUTES TO UNCERTAINTY POWELL: NEAR-TERM INFLATION EXPECATIONS HAVE RISEN *POWELL: HOUSING SECTOR HAS REMAINED WEAK *POWELL: LABOR DEMAND HAS CLEARLY SOFTENED AS WELL *POWELL: PART OF SLOWER JOB GROWTH REFLECTS LOWER IMMIGRATION *POWELL: IN NEAR TERM, HIGHER ENERGY PRICES WILL BOOST INFLATION

FED CHAIR POWELL: WE WILL STAY THE COURSE UNTIL INFLATION RETURNS TO TARGET, ACKNOWLEDGING THAT EVENTS KEEP EMERGING THAT PUSH COSTS HIGHER AND THAT REACHING 2% COULD BE VERY COSTLY — BUT THE GOAL IS TO GET THERE OVER TIME WHILE INFLICTING THE LEAST POSSIBLE DAMAGE. POWELL: THE UNEMPLOYMENT RATE IS QUITE CLOSE TO ITS NATURAL LEVEL, THOUGH THE LABOR MARKET DOESN'T FEEL STRONG TO SOME BECAUSE QUITS AND HIRES REMAIN LOW, WITH FEW NEW OPPORTUNITIES. *POWELL: DOESN'T FEEL LIKE GOOD MARKET FOR THOSE WITHOUT JOBS FED CHAIR POWELL: THE LABOR MARKET IS IN AN UNUSUAL AND UNCOMFORTABLE BALANCE, WITH INFLATION REMAINING THE PRIMARY ISSUE TO ADDRESS; HE EXPECTS TARIFF-DRIVEN INFLATION TO EASE THIS YEAR, WITH THAT MODERATION SET TO BEGIN SOON, AND VIEWS THE CURRENT POLICY STANCE AS WELL… FED'S POWELL Q&A: 'NOT LOOKING TO BE A HIGH-PROFILE DISSIDENT' ON BOARD; BEEN CHALLENGING TO DEAL WITH SIX YEARS OF SUPPLY SHOCKS; 'A DIFFERENT WORLD' #Powell #FOMC #FederalReserve #economy

POWELL: WILL LEAVE FED WHEN I THINK IT'S APPROPRIATE TO DO SO POWELL: LITERALLY STAYING BECAUSE OF THE ACTIONS OF THE ADMINISTRATION POWELL: NO CHOICE BUT TO STAY *POWELL: I WON'T LEAVE THE FED UNTIL INVESTIGATION IS OVER *POWELL: I WILL KEEP A LOW PROFILE *POWELL: MY INTENTION IS NOT TO INTERFERE *POWELL: WILL WORK WITH THE CHAIR *POWELL: WE EXPECT TARIFF INFLATION TO RECEDE NEXT TWO QUARTERS POWELL: ENERGY SURGE HASN'T EVEN PEAKED YET