SUMMARY OF FED CHAIR POWELL'S COMMENTS: 1. Tariffs are bigger than expected and risk higher inflation, slower growth 2. "Too soon" to determine appropriate policy path 3. Fed well-positioned to "wait for greater clarity" 4. Tariffs could have a persistent inflation impact 5. Economic impacts of tariffs larger than expected 6. Must ensure price hikes don't lead to ongoing inflation Just minutes ago, President Trump called on Fed Chair Powell to cut rates immediately. Things are about to get even more volatile.