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As the Fed devises its new strategy, Powell sees an economy with 'more volatile' inflation

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Every five years the Federal Reserve reconsiders its framework for monetary policy. This time it will have to consider lessons from the pandemic and an uncertain future.
In an article from Fortune, Federal Reserve Chairman Jerome Powell addressed the current state of the U.S. economy and inflation during a speech at the Economic Club of New York. Powell acknowledged that inflation remains elevated and is causing hardship for many families, but he expressed optimism that the Fed's actions are helping to bring it down. He noted that the economy has been resilient, with strong job growth and low unemployment, but warned that the path to reducing inflation to the Fed's 2% target will be challenging and may require further rate hikes. Powell emphasized the Fed's commitment to achieving price stability while also maintaining a strong labor market, and he stressed the importance of data-driven decision-making in navigating the current economic environment.

Read the Full Fortune Article at:
[ https://fortune.com/article/federal-reserve-jerome-powell-inflation-economy/ ]