Fed Chair Jay Powell is set to appear before the Senate for his confirmation hearing on Tuesday.

From his prepared remarks:

  • economy expanding at its fastest pace in many years, labor market is strong - prepared remarks for reappointment confirmation hearing
  • economy has rapidly gained strength despite ongoing pandemic, giving rise to elevated inflation
  • strongly committed to achieving maximum employment, price stablity
  • fed will use its tools to support economy, strong labor market, prevent inflation from becoming entrenched
  • economy will be different following pandemic, fed must adapt to those changes
  • I commit to meeting regularly with lawmakers
  • committed to making decisions with objectivity, integrity, impartiality

Headlines via Reuters, for the full text:


ps. Here is some correlation for those interested:

The last resignations of senior Fed officials, Eric Rosengren and Robert Kaplan, were announced on a Monday that coincided with a Powell hearing on a Tuesday. This time 'round its Clarida that's got the chop:

pps. Reusing this pic, new motto at the Fed:

us quits