#PowellRemarks

PowellRemarks

Federal Reserve Chair Jerome Powell recently delivered remarks at Princeton University's baccalaureate ceremony and various conferences. Here are some key points from his speeches:

Key Takeaways

-Public Service: Powell emphasized the importance of public service, encouraging graduates to consider careers that benefit society. He shared his own experiences in public service, highlighting the value of serving others.

-Economic Outlook: Powell discussed the current economic situation, noting that the Fed is closely monitoring incoming data and evolving outlooks. He mentioned that the economy is well-positioned to wait for greater clarity before considering policy adjustments.

-Monetary Policy: The Fed has left its key interest rate unchanged, currently at 4.25%-4.5%, due to economic uncertainty. Powell expects two more rate cuts in 2025, potentially bringing the rate to 3.75%-4% by year-end.

- Inflation and Employment: Powell highlighted the Fed's dual goals of maximum employment and price stability. He noted that unemployment is at historically low levels, around 4%, and inflation is being closely monitored.