#PowellRemarks Jerome Powell, Chair of the Federal Reserve, has made several notable remarks on the economic outlook. Here are some key points¹:

- *Economic Growth*: Powell stated that the US economy is performing well, with economic output growing over 3% last year and expanding at a 2.5% rate this year.

- *Inflation*: He noted that inflation has eased substantially from its peak and is expected to continue declining towards the 2% goal, although the path may be bumpy.

- *Labor Market*: The labor market has cooled off from overheated conditions, with job openings slightly above the number of unemployed Americans seeking work.

- *Monetary Policy*: Powell mentioned that the Federal Reserve is committed to maintaining economic strength by returning inflation to the 2% goal while supporting maximum employment.

- *Interest Rates*: The Fed has lowered its policy interest rate and plans to continue adjusting rates based on incoming data and economic conditions.

In a speech, Powell also mentioned that²:

- *No Imminent Downturn*: There's no reason to think a downturn is more likely than usual.

- *Restrictive Policy*: The Fed needs to maintain restrictive policy to get inflation to 2%.

- *Housing and Goods Inflation*: Housing inflation has come down steadily, and goods inflation has returned to pre-pandemic ranges.