02:39 PM EST, 03/07/2025 (MT Newswires) -- Federal Reserve Chairman Jerome Powell (voter) said that the Federal Open Market Committee can wait for more clarity on the impact of fiscal policy decisions before changing monetary policy, saying that the Fed is in a good position to act by holding rates for longer or lowering rates as needed.

Powell added that the FOMC would not need to react to a one-time inflation impact from tariffs, but would be more reactive to a further slowdown in spending or a deterioration in the labor market.

Fed Governor Adriana Kugler (voter) endorsed holding interest rates steady due to elevated inflation data as well as inflation expectations.

Fed Governor Michelle Bowman (voter) said that she expects labor market conditions and economic activity to become larger factors in monetary policy decisions as progress on inflation continues.

New York Fed President John Williams (voter) said that recent data point to stable inflation expectations.

Recent comments of note:

(March 6) Atlanta Fed President Raphael Bostic (nonvoter) said that it could take until the summer for the FOMC to gain enough certainty on tariffs and other economic events to lower rates further.

(March 6) Fed Governor Waller (voter) said that slower price increases would allow the FOMC to lower rates further, but suggested that the upcoming meeting in March should result in no change to rates.