LARRY KUDLOW: Fed chair Jay Powell gets it right, one time in a row
1. Jay Powell faced criticism for Fed's mismanagement of inflation. 2. Inflation peaked at 9%, while wages increased less than prices. 3. Powell argues Trump's tariffs won't lead to prolonged inflation. 4. Fed will maintain current monetary policy, keeping inflation in check. 5. Current gold prices signal a need for cautious Fed policies.