According to online reports, Federal Reserve Chairman Powell said that before considering adjusting monetary policy, the Federal Reserve needs to further understand the current situation. He said the Fed needed more time to assess the impact on the economy given continued changes in trade, fiscal and regulatory policies. "Higher tariffs this year could push up prices and put pressure on economic activity," Powell pointed out. If the Fed is caught in a so-called dilemma between the two goals of full employment and price stability, it will need to weigh the extent to which each goal deviates from ideal levels and the time it will take to achieve it.