SUMMARY OF FED CHAIR POWELL'S STATEMENT (3/19/25): 1. Economy is strong, inflation remains "somewhat elevated" 2. Tariffs have driven inflation expectations higher 3. Fed is not "in a hurry" and will await further clarity 4. If the labor market weakens, Fed can ease if needed 5. If economy remains strong, policy restraint can be maintained 6. Made technical decision to slow balance sheet decline The Fed remains in "wait and see" mode.