On Federal Reserve Policy

On Inflation and Labor Market

On Monetary Policy Effectiveness

  • Powell believes there isn't a consensus agreement on the duration it takes for monetary policy to affect the economy, but approximated it to be around a year. He refuted the idea that monetary policy is becoming less effective and is committed to doing what it takes to bring inflation down to 2% over time.

On Rate Hikes

  • Powell revealed that the FOMC broadly agrees it will be appropriate to raise rates again this year and perhaps two more times. He clarified that the decision to keep rates on hold was to provide more time for decision-making, hinting at a further cautious approach.