Powell opening statement: Recent indications point to a moderation in consumer spending

• Unemployment rate in a narrow range for the last year
• Labor market conditions broadly in balance
• Labor market not a source of inflationary pressures
• Surveys show heightened uncertainty, unclear how uncertainty will affect outlook
• Surveys mention tariffs as a driving factor
• New administration is embarking on policy changes, but uncertainty around the changes is high
• Net affect of policy changes is what matters
• We do not need to be in a hurry

This article was written by Adam Button at www.forexlive.com.