SUMMARY OF FED CHAIR POWELL'S COMMENTS (6/18/25): 1. Will likely get to a place where rate cuts are appropriate 2. Fed will make “smarter” decisions if they wait a couple of months 3. Fed expects “meaningful” amount of inflation in coming months 4. Unemployment remains in a “reasonable” place 5. It will take time to see how large inflation effects will be 6. Fed’s inflation forecast for this year is higher due to tariffs