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 a policy panel of the IMF's 24th Jacques Polak Annual Research Conference in Washington, D.C.
Why it mattersPowell says the Fed is not confident policy is restrictive enough yet.
Problems raised- The pandemic-era inflation episode was historic.
- Supply shocks complicate the monetary policy response.
- Core inflation remains above 2%.
Solutions proposed- Remain committed to returning inflation to 2%.
- Look through temporary supply shocks when appropriate.
- Tighten further if progress on inflation stalls.
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