Opening Remarks
· Jerome H Powell, Chair of the Federal Reserve (United States)
Summary written by Dark Majestic in its own words · topics: monetary policy and interest rates, inflation and price stability
JH · Jerome H Powell Wiki · Federal Reserve WikiOpening RemarksContextOpening remarks by Jerome Powell at the Economic Club of New York luncheon.
Why it mattersPowell says strong data could warrant further tightening.
Problems raised- Inflation is still too high.
- Pandemic distortions to supply and demand are unwinding.
- Uncertainty about tightening too much or too little.
Solutions proposed- Proceed carefully with policy decisions.
- Keep policy restrictive until inflation falls sustainably.
- Balance the risks of doing too much or too little.
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