Wall Street Journal Summary – Transcript: Fed Chief Jerome Powell’s Postmeeting Press Conference – The Wall Street Journal
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Key Facts
1. Federal Reserve Chair Jerome Powell addressed the economic outlook, mentioning that the U.S. economy is showing signs of recovery but still faces risks due to the pandemic.
2. Inflation is running above the desired 2% target, with Powell emphasizing that the Fed is prepared to adjust policies to ensure long-term economic stability.
3. The interest rate will remain near zero until substantial progress is made toward maximum employment and inflation goals, signaling continued support for the economic recovery.
Federal Reserve Chair Jerome Powell provided an update on the U.S. economic outlook during his post-meeting press conference. He indicated improvements in the economy, yet acknowledged persistent challenges posed by the ongoing pandemic. Powell noted that while inflation is currently above the 2% target, the Federal Reserve is ready to modify its policies to maintain economic stability over the long term. He reaffirmed that interest rates would stay near zero until significant advancements are achieved in employment and inflation, illustrating the Fed’s commitment to supporting the economic recovery.
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