#powellremak #PowellRemarks
Jerome Powell, Chairman of the US Federal Reserve, recently testified before the House Financial Services Committee, providing updates on monetary policy. Here are some key points from his remarks ¹ ²:
- *Inflation Concerns*: Powell emphasized that the Fed still has work to do on inflation, stating, "We are not there on inflation." This suggests that the central bank remains vigilant about price stability.
- *Economic Stability*: Powell highlighted the importance of the US Treasury market in maintaining economic stability, noting it's "part of the bedrock of our economy and indeed of the world economy".
- *Monetary Policy Implementation*: He stressed that the Treasury market plays a critical role in implementing monetary policy and efficiently transforming Treasury securities into cash, even during times of stress.
Powell's testimony underscores the Fed's ongoing efforts to manage inflation and ensure economic stability. For more detailed insights and updates on Powell's remarks, consider visiting the Federal Reserve Board's website for official transcripts and speeches ².
