FOMC Chairman Jerome Powell testifies before the House Financial Services Committee on “Monetary Policy and the State of the Economy.”
Featured Statements
“It is possible to have a strong labor market while inflation is contained.”
“The challenge now is that we are tightening, which should drive growth down.”
“We don’t have precision tools.”
“There is a risk that unemployment will go up.”
“But remember this is from a historically low level.”
“The labor market is overheated.”
“Our intention is to achieve a soft landing, the path to do so has become more and more challenging.”
market reaction
The dollar index continues to rise after these comments and was last seen up 0.22% on the day at 104.40.
Source: Fx Street
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