Federal Reserve Chairman Jerome Powell speaks at a listening to with the Senate Committee on Finance, Housing and City Affairs. Listed here are the highlights of his speech.
- Lengthy-term inflation expectations appear strong.
- The Fed’s framework overview doesn’t concentrate on inflation targets, with the inflation goal remaining at 2%.
- Current insurance policies are absolutely ready to handle dangers and uncertainties.
- If the economic system is robust and inflation doesn’t method 2%, insurance policies might be stored cautious for a protracted time frame. If the labor market is unexpectedly weakened or inflation drops greater than anticipated, insurance policies may be mitigated modestly.
- Total, the US economic system is robust and inflation is near its 2% goal, however we’re nonetheless just a little excessive.
- Unemployment charges stay low and secure, the labor market is robust and doesn’t turn out to be a supply of inflationary strain.
*This isn’t funding recommendation.
