The Committee is still super worried about long-term inflation expectations, and everyone from Goolsbee to Kashkari say that keeping those down is the highest priority.
After the pandemic recession, the right policy decisions resulted in a strong recovery and laid the foundations for another era of sustained productivity growth, similar to the 1990s. Sadly, in 2025, new policies are actively working against that dream.
Despite the tariff announcement, Fedspeak is nearly indistinguishable from last week.
This is our last snapshot of the labor market before we really start seeing the effects of the new Administration’s policies on the economy.
We're starting to get more color from Fed officials about how they see tariffs playing out. Everyone is qualifying their comments with heavy pinches of salt.
