Core Viewpoint - Federal Reserve Chairman Powell reiterated that there is no risk-free policy path ahead, emphasizing that the policy stance remains moderately restrictive and is prepared to address potential developments [1] Group 1 - The interest rate cut is a step towards a more neutral policy stance [1] - Long-term inflation expectations align with the 2% target, with potential for "one-time" price increases in the coming quarters [1] - The rise in commodity prices is largely attributed to tariff factors rather than broader price pressures [1]

Core Viewpoint - The Federal Reserve Governor Waller maintains that tariffs will result in a one-time price increase rather than ongoing inflationary pressure [1] Group 1 - Waller's statement suggests that the impact of tariffs on prices is expected to be temporary, indicating a potential stabilization in pricing after the initial adjustment [1] - The emphasis on tariffs as a one-time event may influence market expectations regarding future inflation and monetary policy decisions [1]