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 fireside chat at Spelman College in Atlanta, Georgia.
Why it mattersPowell says it is premature to speculate on cuts and keeps the option to tighten.
Problems raised- The economic outlook remains uncertain.
- The right level of monetary restraint is hard to judge.
- The lags with which tightening affects inflation are uncertain.
Solutions proposed- Keep policy restrictive until inflation is clearly heading to 2%.
- Move carefully and decide meeting by meeting.
- Stand ready to tighten further if needed.
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