Overview

• The Dow rose more than 700 points to a record after the remarks circulated, and Germany’s DAX gained about 0.5%.
• The euro strengthened against the dollar, gold advanced, and Bitcoin briefly jumped to about $115,743, up roughly 3%.
• Powell stressed that FOMC decisions are based solely on data and the economic outlook, underscoring independence after public pressure from President Trump.
• He pointed to far‑reaching shifts in tax, trade and immigration policy that appear to have changed the balance of risks, with tariffs threatening renewed inflation.
• With unemployment still low and the policy rate roughly one percentage point below last year’s level, Powell said conditions allow cautious consideration of adjusting policy.