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In this video, Ira discusses Fed Chair Jerome Powell’s Jackson Hole speech on August 22, 2025. Powell acknowledged that tariffs are now clearly driving consumer prices higher, core PCE remains elevated at 2.9%, and the Fed’s 2% inflation target may not be achievable until well past 2026. He also revealed that the recent shock slowdown in job growth spooked the Fed, shifting focus toward supporting the labor market while allowing inflation to run hotter in the near term. Ira breaks down:

• Why Powell now accepts inflation will persist
• How tariffs are impacting consumer prices
• Why job data revisions rattled the Fed
• What this means for interest rate cuts in 2025
• The risk of stagflation if jobs continue weakening while inflation rises

Video Length: 00:04:47

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