#PowellRemarks #PowellRemarks Federal Reserve Chair Jerome Powell recently shared his thoughts on the economic outlook, highlighting the US economy's resilience and progress toward the Fed's dual-mandate goals of maximum employment and stable prices. Here are some key points from his remarks:

- *Economic Growth*: The US economy has grown remarkably, with economic output increasing by over 3% last year and expanding at a 2.5% rate this year. Consumer spending has remained strong, supported by rising disposable income and solid household balance sheets.

- *Labor Market*: The labor market has cooled off from its previously overheated conditions and is now back to more normal levels. Job openings slightly exceed the number of unemployed Americans seeking work, and wages are increasing at a more sustainable pace.

- *Inflation*: Inflation has eased substantially from its peak, and Powell believes it's on a sustainable path to the Fed's 2% goal. The Fed is committed to maintaining the economy's strength while returning inflation to its goal.

- *Monetary Policy*: The Fed recently lowered its policy interest rate by 0.25% to reduce policy restraint. Powell emphasized that the path for future rate adjustments will depend on incoming data and the economic outlook.

In related remarks, Powell also discussed the potential impact of tariffs on the economy. While specific details on Trump's tariffs are not available in the recent speech, his comments suggest the Fed is closely monitoring the situation and will adjust policy accordingly.¹