#PowellRemarks Here's the latest update on Fed Chair Jerome Powell's remarks.

- *Monetary Policy Stance*: Powell emphasized that the Federal Reserve is well-positioned to wait for greater clarity before considering any adjustments to the policy stance, given the current economic conditions and uncertainty surrounding inflation and fiscal policy.

- *Interest Rate Projections*: The Fed signaled two rate cuts this year, unchanged from the March forecast, with seven FOMC members expecting two cuts and four anticipating just one.

- *Inflation Outlook*: Powell noted that inflation has eased from its pandemic highs but remains above the 2% objective. The Fed's projection for core PCE inflation is 3.1%, up from 2.8% in March.

- *Economic Growth*: The Fed expects economic growth to slow to 1.4% this year, down from the previously projected 1.7%.

- *Labor Market*: The labor market is described as "solid" with unemployment projected to edge up to 4.5% by year-end.

Powell's remarks suggest a cautious approach to monetary policy, with a focus on achieving the Fed's dual-mandate goals of maximum employment and price stability. The market is closely watching his tone and guidance for clarity on the policy outlook .