#DiversifyYourAssets

Jerome Powell, Chairman of the Federal Reserve, has made significant remarks on the US economy. Here are the key points¹ ²:

- *Economic Recovery*: Powell emphasized the need for the economy to recover from the pandemic, focusing on maximum employment and stable prices.

- *Inflation Concerns*: He highlighted the Fed's fight against inflation, acknowledging the risk of recession and mass layoffs due to rate hikes.

- *Monetary Policy*: Powell stated that the Fed will assess progress based on data and adjust the policy rate accordingly.

- *Racial Inequality*: He acknowledged the pandemic's impact on racial inequality, emphasizing the need for equal opportunities in the labor market.

- *Future Projections*: Powell expressed uncertainty about the number of job losses that will be permanent, estimating it could be in the millions.

In a recent speech, Powell navigated the complexities of the current economic situation, emphasizing the Fed's commitment to data-driven decision-making.$XRP #DiversifyYourAssets