Federal Reserve Chair Jerome Powell stated that if the economy evolves as expected, the policy rate will be dialed back this year. Powell expressed concerns about inflation stabilizing at elevated levels and emphasized the need for greater confidence in inflation moving sustainably down to 2%. He also mentioned that the Fed expects economic growth to moderate and is not rushing to make decisions. Powell emphasized the goal of anchoring inflation at 2% and expressed that the Fed is not overly worried about strong growth and potential inflation resurgence.
Fed's Powell: Not So Worried That Growth Is Too Strong And Inflation Could Come Back
"We are looking for greater confidence that inflation is moving sustainably down to 2%,” Federal Reserve Chair Jerome Powell says https://t.co/bsI1RvR2iq https://t.co/u9GHcVNZGf
Powell: We are not looking for inflation to tap 2% twice.. we want to anchor inflation at 2%
🔴 FED'S POWELL: WE ARE NOT LOOKING FOR INFLATION TO TAP 2% ONCE, WE ARE LOOKING FOR IT TO SETTLE OUT AT 2%.
Fed's Powell: We Are Not Looking For Inflation To Tap 2% Once; We Are Looking For It To Settle Out At 2%
Fed's Powell: We Do Expect Economic Growth Will Moderate
Fed's Powell: More Concerned Inflation Will Stabilize At Elevated Level - We Are Not Rushing
Fed's Powell: We Are Trying To Identify A Place We Are Confident On Inflation To Begin Process Of Dialling Back Restrictive Level
❖ POWELL: IF ECONOMY EVOLVES AS EXPECTED, WE WILL DIAL BACK POLICY RATE THIS YEAR