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On Tuesday, Fed Chair Jerome Powell discussed the Federal Reserve's response to Trump's tariffs agenda.
Transcript
00:01Chair, would the Fed have cut more by now if it weren't for the tariffs?
00:06So I do think that's right.
00:08In effect, we went on hold when we saw the size of the tariffs
00:12and essentially all inflation forecasts for the United States
00:16went up materially as a consequence of the tariffs.
00:19So we didn't overreact. In fact, we didn't react at all.
00:23We're simply taking some time.

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