Overview

• Powell urged Princeton graduates to guard their integrity and praised U.S. universities as crucial national assets in his commencement address.
• He defended the Fed’s pandemic response, noting that coordinated rate cuts and asset purchases helped avert severe economic fallout.
• President Trump has criticized Powell’s pace on interest-rate cuts, labeling him a “fool” and signaling frustration over the Fed’s hold.
• A Supreme Court decision affirmed the Fed’s status as a “uniquely structured, quasi-private entity,” restricting presidential power to remove its leaders.
• Fed officials maintained the target range at 4.25–4.5%, citing ongoing tariff uncertainty and persistent inflation risks.