Powell: The Fed "is in a favorable position to wait and see"

Powell said he believed the Fed was "in a good place" to observe how all uncertainties surrounding the Trump administration's tariffs would develop. "I think there is a lot of uncertainty, and we are in a good place to watch. That's the key. We don't have to rush. The economy has been resilient and is performing quite well. Our policy stance is good. The cost of further wait-and-see is quite low," Powell said. "I can't tell you how long it will be, but at the moment, we seem to have made a fairly clear decision to wait and see."