#PowellRemarks Jerome Powell, Chair of the Federal Reserve, recently shared his insights on the US economy. Here are some key points from his remarks ¹ ²:

- *Economic Outlook*: Powell noted that the US economy has made significant progress toward the Federal Reserve's dual mandate goals of maximum employment and stable prices. The labor market remains in solid condition, and inflation has eased substantially from its peak.

- *Inflation*: Powell emphasized that inflation is running closer to the 2% goal, but it's not yet there. He expects inflation to continue to come down toward the 2% objective, albeit on a sometimes-bumpy path.

- *Monetary Policy*: The Federal Reserve has taken steps to reduce policy restraint by lowering the policy interest rate. Powell stated that the path for getting there is not preset and will depend on incoming data and the economic outlook.

- *Interest Rates*: Powell mentioned that the economy is not sending any signals that the Fed needs to be in a hurry to lower rates. The strength in the economy gives the Fed the ability to approach decisions carefully.

- *Uncertainty*: Powell acknowledged that businesses and households are experiencing high uncertainty, which can affect investment and economic growth. He emphasized the importance of clear communication in times of uncertainty.

- *Fed Independence*: Powell stressed that the Federal Reserve's independence is crucial for making decisions based on data and analysis, without political pressure.

Powell's remarks suggest a cautious approach to monetary policy, prioritizing data-driven decisions to achieve the Fed's dual mandate goals.