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- Powell speech: If we don't see progress on inflation, that could cause us to react
Powell speech: If we don't see progress on inflation, that could cause us to react
Fed Chair Jerome Powell said on Wednesday in his post-Fed meeting press conference that if the Fed doesn't see progress on inflation, it will react, reported Reuters. However, Powell said that soon enough there will be some progress on bringing inflation back down and that he thinks the Fed's guidance is still credible.
Additional Remarks:
- "It is unusual to get data late during the Fed's blackout period."
- "We won't declare victory until we really see compelling evidence inflation is coming down."
- "We are going to be careful about declaring victory."
- "Our policy will be sensitive and flexible."
- "I do think our goal is to bring inflation down to 2% while the labor market remains firm."
- "What is becoming clear is many factors we don't control will play a large part in if that happens."
- "We can't control supply-side issues."
- "There is a path for us to keep a firm labor market, but it's not getting easier."
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