It is possible that we'll see more persistent inflation due to policies.

I am paying a lot of attention to inflation expectations.

I don't expect government job cuts to show up suddenly.

I am watching very closely for any sudden job market changes.

Wage gain moderation has helped lower inflation.

I am not that worried about small uptick in unemployment rate.

The February jobs number was a solid number.

There is a high level of uncertainty around tariffs.

There reason to believe that, potentially, there could be more persistent inflation.

Uncertainty is difficult for all parts of the economy.