Powell speech: Economy can handle tighter monetary policy

Jerome Powell, Chairman of the Federal Reserve System, is delivering his remarks on the monetary policy outlook at a press conference following the FOMC's decision to hike the policy rate by 50 basis points in May.

Key quotes

"Inflation has surprised to upside and further surprises could be in store."

"We will strive not to add more uncertainty to a highly uncertain environment."

"Economy can handle tighter monetary policy."

"America is well-positioned to handle tighter policy."

"I expect will get some additional labor participation, tending to hold unemployment rate up a little."

"We think job creation will slow."

"Certainly possible unemployment could go down further."

About Jerome Powell (via Federalreserve.gov)

"Jerome H. Powell took office as Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term*. Mr. Powell also serves as Chairman of the Federal Open Market Committee, the System's principal monetary policymaking body. Mr. Powell has served as a member of the Board of Governors since taking office on May 25, 2012, to fill an unexpired term. He was reappointed to the Board and sworn in on June 16, 2014, for a term ending January 31, 2028."

"*Note: On February 4, 2022, the Federal Reserve Board named Jerome H. Powell as Chair Pro Tempore, pending Senate confirmation to a second term as Chair of the Board of Governors."