Powell: 'Tariff inflation is transitory… Middle East situation affects oil prices'
JH Kim
Summary
- Jerome Powell said inflation driven by tariffs is a one-off price increase that could push overall prices up by 0.5–1.0%.
- Powell noted that the situation in the Middle East is affecting energy costs such as gasoline prices.
- He emphasized that monetary policy is in a good place to wait and see, suggesting the Fed may maintain a cautious policy stance for the time being.
Forecast Trend Report by Period
Federal Reserve Chair Jerome Powell struck a cautious tone on inflation and the policy outlook.
According to Walter Bloomberg on the 30th (local time), Powell said, "Inflation stemming from tariffs is a one-off price increase and could lift overall prices by about 0.5–1.0%."
He also noted that developments in the Middle East are affecting energy costs such as gasoline prices.
On current monetary policy, he emphasized that "policy is in a good place to wait-and-see."
The remarks suggest the Fed may keep a cautious policy stance for the time being even as some inflation pressures persist.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
