Federal Reserve Chairman Jerome Powell stated that if the economy evolves as expected, the policy rate will be dialed back this year. Powell also mentioned that the economy is broadly normalizing and expects economic growth to moderate. He expressed a high level of attention to the risks inflation poses and highlighted the downward pressure on economic activity and inflation due to the Fed's restrictive stance. Additionally, Powell noted that the labor market, by many measures, is at or nearing normal.
Fed's Powell: We Do Expect Economic Growth Will Moderate
*POWELL: LABOR MARKET BY MANY MEASURES IS AT OR NEARING NORMAL
🔴 FED'S POWELL: THE ECONOMY IS BROADLY NORMALIZING.
Fed’s Powell: Highly Attentive To Risks Inflation Poses To Both Sides Of Mandate - Our Restrictive Stance Is Putting Downward Pressure On Economic Activity And Inflation - If Economy Evolves As Expected, We Will Dial Back Policy Rate This Year
❖ POWELL: IF ECONOMY EVOLVES AS EXPECTED, WE WILL DIAL BACK POLICY RATE THIS YEAR