Fed Chair Powell: We do see price increases in a few categories due to tariffs

Inflation Trends - Core services inflation, including housing and non-housing, is trending towards levels consistent with 2% inflation [1] - Goods inflation has slightly increased, and further increases are expected over the summer due to tariffs [2] - Tariff effects on consumer prices are beginning to be observed, particularly in categories like personal computers and audiovisual equipment [3] Tariff Impact & Uncertainty - Companies anticipate passing some or all tariff costs to consumers [4] - The magnitude, duration, and timing of tariff effects remain highly uncertain [4] - The industry believes a cautious approach is appropriate while further information on tariff impacts is gathered [4] Monetary Policy & Inflation Expectations - The industry expects inflation to rise and then decline, but this is not guaranteed [5] - A key objective is to prevent a one-time inflation increase from becoming a broader inflation problem [5] - Maintaining anchored inflation expectations is crucial [5]