FOMC Chairman Jerome Powell testifies before the Senate Committee on Banking, Housing, and Urban Affairs on the “Semi-annual Monetary Policy Report to Congress.”
Featured Statements
“I’m very humbled trying to forecast the economy in the next three years.”
“Even so, there is a path to lower inflation to 2% with less worrying effects.”
“Our goal is to lower inflation without causing a recession.”
“This could be an unusual situation with the possibility of a sharp drop in prices.”
“Ultimately we have to see progress on the supply side, but we’re not waiting.”
“Our job is to get demand down to a more sustainable level so supply can catch up.”
“The banking system is very strong.”
“The markets have performed reasonably well.”
Source: Fx Street
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