Officials from the Federal Reserve America (Fed) - Mr. Musalem stated that although recent inflation trends show positive signs at a moderate level, forecasts indicate that inflation could rise again due to new tariff levels. He emphasized that price pressures remain a risk and the full impact of these tariffs may not be clear until the end of this year or early next year.

Despite existing risks, Mr. Musalem believes that the American economy remains strong — the labor market is still tight, although the pace of hiring has slowed and the labor supply may shrink due to immigration trends. He emphasized the importance of keeping long-term inflation expectations stable and stated that there is no urgent need to cut interest rates, while also noting that the current monetary policy is not overly restrictive.

Trump increases pressure on Powell

Unlike Fed officials, former President Donald Trump once again called on the Fed to quickly cut interest rates. He cited record high levels in technology indices and the cryptocurrency market, particularly the 47% surge in Nvidia stock since the tariff announcement, as evidence that market momentum is very strong.