"Despite heightened uncertainty and downside risks, the U.S. economy is still in a solid position," said Federal Reserve Board Chair Jerome Powell during remarks on the U.S. economic outlook before the Economic Club of Chicago. In his remarks, Chair Powell provided an assessment of the coming economic forecast, saying, "Tariffs are highly likely to generate at least a temporary rise in inflation. The inflationary effects could also be more persistent." Following his remarks, the chair sat down for a conversation here he expanded more on the economy, specifically the possibility of a recession and the impact of tariffs on inflation.