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Summarize the key points of Old Bao's speech last night:
Powell: It is still too early to assess the impact of tariffs on inflation.
The impact of tariffs on consumer prices is beginning to show.
The upcoming (to be released) inflation data is expected to reflect more tariff impacts.
The process of tariff transmission to prices may be slower than previously anticipated.
It can be said that the Federal Reserve will look at (tariff) inflation through 'no interest rate hikes'.
I do not believe that the fiscal policies related to the beautiful tax law have any particularly stimulating effect.
We do not consider the cost of changes in government (debt) interest rates.