Powell's key points in his speech:
1) The economy is fundamentally sound, and the Federal Reserve's policy is in a "moderately tight" state.
2) Consumption has slowed slightly, but it is not a cause for concern.
3) There is a possibility of a rate cut in September, but it will depend on the data, especially data indicating a weakening labor market.
4) "The most critical indicator right now is the unemployment rate."
5) He had "a pleasant meeting" with Trump.
Powell avoided all other political questions.
When asked if delaying a rate cut would make companies hesitant to raise prices, Powell said that some companies would raise prices when they could. He gave an example that during Trump's first term, tariffs were imposed on washing machines but not on dryers, yet the prices of both went up together.
Powell said: "Companies usually cross the street together, you know what I mean."
Original article: https://www.toutiao.com/article/1839111146264587/
Statement: This article represents the views of the author.