Powell: Expected to see tariff driven inflation rise in the coming months Federal Reserve Chairman Powell stated at a press conference that under the impact of the Trump administration's tariffs, US inflation may significantly rise in the coming months. He emphasized that there needs to be sufficient confidence in the decline of inflation before starting to cut interest rates, and the current policy should remain "moderately restrictive". The dot plot shows that two interest rate cuts are still expected in 2025. Powell stated that the Federal Reserve is evaluating the transmission path of tariffs and reiterated its stance on the 2% inflation target. He also stated that given the current inflation situation, monetary policy still needs to impose some restrictions on the economy. The current interest rate level is not very high. The current policy can be described as moderate or moderate tightening, and may now lean towards "moderate restrictive" measures. He added, "If you look at the current economic performance, you will find that its performance does not seem to be experiencing a 'very tight monetary policy'