Fed Chair Powell anticipates a cautious soft landing for the US economy with a peak rate for the current cycle, subject to progress on 2% inflation target.
Fed Chair Jerome Powell expects a soft landing for the US economy and does not anticipate announcing a victory for it. Powell testified before the House Financial Services Committee about the Federal Reserve's Semi-Annual Monetary Policy Report, emphasising the importance of a cautious approach given the economy's strength and tight labor market. He mentioned that the Fed is likely at its peak rate for this cycle and that a dial-back of policy restraint could occur later this year, contingent upon the progress towards the 2% inflation target.
March 06, 2024
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