PANews reported on September 24th that, according to Jinshi, Federal Reserve Chairman Powell stated: "We never consider political factors." Many people do not believe us, and many say we are politically motivated. This is pure nonsense, and our decisions are "never based on political factors." The impact of tariffs on consumer inflation is "not a major factor." We expect the tariffs to be a one-time pass-through effect, which will end by the end of next year. We are in a "low employment, low layoffs" economy. Artificial intelligence will eliminate some jobs, while AI will drive the evolution of some jobs and create new ones.
He also said job growth appears too weak to keep the unemployment rate stable. The Fed is "well-positioned" after its September rate cut. If policy isn't in the right place, we'll take action to adjust it. Stock market valuations are already quite high.
