Powell said: There is no rush to cut interest rates before the impact of Trump's policies becomes clearer, and we will not rush to cut interest rates before the impact of Trump's new government's policies on the economy becomes clearer. Powell said: "The new government is implementing major policy changes in four different areas: trade, immigration, fiscal policy, and regulation. There is still a high level of uncertainty surrounding these changes and their potential impact. Our focus is to distinguish between signals and noise as the outlook evolves. We don't have to rush, we are fully capable of waiting for a clearer outlook." Powell's speech comes at a turbulent time when both the stock market and bond yields are falling, with Trump announcing high import tariffs on major trading partners Mexico and Canada, which were later postponed. Although Powell said the economy "remains in good shape," data also suggests that consumer spending may slow down, and businesses and companies are facing "increased uncertainty about the economic outlook." Powell added that key indicators remain solid, with progress continuing in inflation and employment, although uneven, but ongoing.