Jerome Powellpresident of the Federal Reserve System (Fed), testifies before the Committee on Financial Services of the House of Representatives and answers questions from congressional legislators.
Key Highlight Statements
“This economy is very strong.”
“A very strong job market is driving the economy.”
“Inflation is gradually coming down.”
“What people are really worried about is inflation.”
“While raising rates can be painful, it dampens demand.”
“We want to go back to price stability, we want to go back to that place where inflation is low enough that people don’t think about it.”
“We are on a journey to get to price stability, we have a long way to go but we are making progress.”
About Jerome Powell (via Federalreserve.gov)
“Jerome H. Powell first assumed office as Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. He was re-elected to the position and sworn in for a second term four years on May 23, 2022. Powell is also Chairman of the Federal Open Market Committee, the System’s principal monetary policy body. Mr. Powell has been a member of the Board of Governors since his inauguration on May 25. May 2012, to fill an unexpired term. He was re-elected to the Council and was sworn in on June 16, 2014, for a term ending on January 31, 2028.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
