Overview

• Jerome Powell cautioned that President Trump's tariffs pose unprecedented risks to U.S. economic growth, inflation control, and the nation's safe-haven appeal for global investors.
• The Fed Chair reaffirmed the central bank's legal independence, vowing to resist political pressure and base decisions solely on economic data.
• Powell highlighted the Federal Reserve's readiness to bolster global funding markets by supplying dollar liquidity through swap lines if needed.
• He signaled potential regulatory changes, including loosening rules on bank engagement with crypto assets and advancing stablecoin frameworks for broader adoption.
• The Fed remains committed to finalizing Basel III reforms, aiming to strengthen global banking standards in collaboration with other regulatory bodies.