Goods prices increasing due to tariffs, housing services inflation lowering, says Fed Chair Powell

Core Inflation Insights - Core inflation remains at 3%, with some components coming in lower than expected [1][2] - The inflation rate excluding tariffs is estimated to be around 2.3% to 2.4%, which is close to the 2% target [5][6] Goods and Services Inflation - Goods prices are increasing due to tariffs, contrasting with a long-term trend of mild deflation in goods [3][5] - Housing services inflation is decreasing and is expected to continue this trend, which is a positive sign [3][4] - Non-housing services inflation has been stable but does not provide significant signals about economic tightness [4][9] Labor Market and Economic Policy - The labor market is not perceived as overly tight, which reduces the risk of persistent inflation [7][10] - Current monetary policy is described as modestly restrictive, contributing to a gradually cooling economy and labor market [10][11] Future Inflation Expectations - There is a commitment to return inflation to the 2% target, with market surveys indicating credibility in this commitment [11]