Federal Reserve chair speaks on inflation

Federal Reserve Chair Jerome Powell addressed Harvard University students Monday, stating the Fed will remain cautious as the war in Iran and new tariffs impact the U.S. economy. In one of his final appearances before his term ends in May, Powell noted that while inflation remains above the 2% target, the FOMC is monitoring rising gas prices and a "one-time" price increase from tariffs. He emphasized that current policy is positioned to wait for the full economic fallout of Middle East events.