Key highlights from the Powell speech 👇 🔸 POWELL: WELL POSITIONED TO WAIT FOR GREATER CLARITY BEFORE CONSIDERING ANY CHANGES TO POLICY STANCE (Rate Cut he means) 🔸 POWELL: SO FAR LARGER-THAN-EXPECTED TARIFFS LIKELY MEAN HIGHER INFLATION, SLOWER GROWTH 🔸 POWELL: ECONOMIC IMPACT OF TARIFFS LIKELY LARGER THAN EXPECTED 🔸 POWELL: EFFECTS OF POLICY WILL LIKELY MOVE THE FED AWAY FROM ITS GOALS 🔸 POWELL: THE TARIFF SHOCK PUSHES TOWARD HIGHER UNEMPLOYMENT, HIGHER INFLATION 🔸 VOLATILITY CONTINUES