1. basic asssesment. the Fed are saying now that tariff has little impact in next 3 years inflation.
2. The big change. This is a big deviation from its past statement. They said tariff's impact on inflation is uncertain.
3. uncertainty dimibished. "Uncertainty about economic outlook has diminished but remaind elevated". This is a big change.
4. What is the biggest uncertainty about economy this year? Of course, tariff.
basically, fed are saying tariff risk has diminshed, the biggest economic risk has diminished.
isn't this dovish?
