Powell: Don't take much message from rise in price for gold

Available indicators suggest that economic activity has been expanding at a solid pace. Job gains have remained low, and the unemployment rate has shown some signs of stabilization. Inflation remains somewhat elevated. The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. Uncertainty about the economic outlook remains elevated. The Committee is attentive to the risks to both sides of its dual mandate. In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 3‑1/2 to 3‑3/4 percent. In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee is strongly committed to supporting maximum employment and returning inflation to its 2 percent objective. In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals. The Committee's assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments. Voting for the monetary policy action were Jerome H. Powell, Chair; John C. Williams, Vice Chair; Michael S. Barr; Michelle W. Bowman; Lisa D. Cook; Beth M. Hammack; Philip N. Jefferson; Neel Kashkari; Lorie K. Logan; and Anna Paulson. Voting against this action were Stephen I. Miran and Christopher J. Waller, who preferred to lower the target range for the federal funds rate by 1/4 percentage point at this meeting. FOMC STATEMENT COMPARE pic.twitter.com/zK9gGdjOKS *FED SAYS GOVERNORS WALLER, MIRAN DISSENT IN FAVOR OF 25 BPS CUT *FED: UNEMPLOYMENT RATE HAS SHOWN SOME SIGNS OF STABILIZATION

*POWELL: STILL HAVE SOME TENSION BETWEEN EMPLOYMENT, INFLATION POWELL: TARIFFS LIKELY TO BE A ONE-TIME PRICE INCREASE POWELL: MOST OF THE OVERRUN IN INFLATION IS FROM TARIFFS, NOT DEMAND POWELL: CORE PCE EX-EFFECTS OF TARIFFS ON GOODS IS RUNNING JUST A BIT ABOVE 2% POWELL: EXPECT WILL SEE TARIFF EFFECT ON GOODS PEAKING AND THEN COMING DOWN THIS YEAR POWELL: IF WE SEE THAT, WOULD TELL US WE CAN LOOSED POLICY *POWELL: TARIFFS LIKELY TO BE A ONE-OFF PRICE INCREASE *POWELL: DECLINES TO COMMENT ON WORKING WITH NEW CHAIR *POWELL: HARD TO SAY IF MANDATE RISKS ARE FULLY BALANCED *POWELL: SHORT-TERM INFLATION EXPECTATIONS HAVE FULLY RETRACED POWELL: NOT A LOT OF DATA THAT SUGGESTS THERE IS MUCH TO THE STORY ABOUT FOREIGN INVESTORS HEDGING THEIR DOLLAR ASSETS

FED'S POWELL Q&A: BEEN DISCONNECT FOR SOME TIME BETWEEN SENTIMENT SURVEYS AND CONTINUING RESILIENT SPENDING; SOME CONSUMERS ECONOMIZING #Powell #FOMC #FederalReserve #economy POWELL: AI MAY CUT SOME JOBS SHORT TERM; OVERALL IMPACT UNCLEAR, POSSIBLE LINK TO LOW HIRING OF RECENT GRADS POWELL: A LOT OF GEOPOLITICAL RISKS ARE AROUND ENERGY AND OIL, SO FAR DON'T SEE MUCH POWELL: EXPECT TARIFF INFLATION TO TOP OUT ROUGHLY NEAR MIDDLE OF 2026 *POWELL: LABOR MARKET DATA IS MORE RELIABLE THAN GDP