Federal Reserve Chairman Jerome Powell said today that the US economy is in a “strong position” and the central bank can reduce inflation to 2% while maintaining a stable labor market, although this task has become more difficult. the last months.
“We hope that growth will remain positive,” Powell said during a discussion Wednesday at the European Central Bank’s annual policy forum in Sintra, Portugal.
Household and corporate finances are also in good shape, and “overall the US economy is in a good position to withstand tighter monetary policy.”
“Our goal is to raise interest rates without triggering a recession.” And we believe there are ways to achieve that, “Powell added.
Powell spoke at a panel with European Central Bank President Christine Lagarde and Bank of England Governor Andrew Bailey. All three central bankers are trying to reduce inflation, which has become a global problem exacerbated by massive disruptions in supply chains and the rally in food and energy prices due to the war in Ukraine.
Source: Capital
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