Federal Reserve Chair Jerome Powell expressed concerns regarding economic uncertainty amid a slow-growth environment during a recent House Financial Services Committee hearing. He emphasized his goal is to ensure a robust economy, effective inflation control, and a solid labor market for his successor. Powell's upcoming term end in 2026 raises discussions about potential successors as he faces criticism from political leaders. The Fed has kept interest rates steady amid inflationary pressures, underscoring the delicate balance policymakers must strike.
"All I want to do in what's left of my time at the Fed is have the economy be strong, have inflation under control, and have a solid labor market."
"All professional forecasters that I know of, on the outside and the Fed, do expect a meaningful increase in inflation over the course of this year."
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