I will be patient if there is a temporary increase in inflation

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FOMC President Jerome Powell is presenting his comments on the US economy and policy prospects at the jobs summit of the Wall Street Journal.

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“4% would be a good unemployment rate, but it would take more than that to reach maximum employment.”

“It is highly unlikely that it will peak employment this year.”

“I am concerned about the messy conditions in the financial markets.”

“Increased vaccines and fiscal support means we could see a rebound in job creation.”

“Any change in the Fed’s asset purchases would need real progress toward targets; it will take some time to make additional substantial progress. There is a lot of ground to cover before we get to that.”

“If we see a temporary increase in inflation, I will be patient.”

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