Powell "Outlook for employment and inflation not greatly changed since last meeting… Inflation still somewhat high"

JH Kim

Summary

Powell, Fed Chair, said the outlooks for employment and inflation have not changed significantly since the last meeting.
He emphasized that inflation remains somewhat high.
Markets interpret the remarks as indicating the possibility that a cautious stance on monetary policy will be maintained.

On the 10th (local time), according to the economic news account Walter Bloomberg, Jerome Powell, Chair of the U.S. Federal Reserve (Fed), said the outlooks for employment and inflation have not changed significantly since the previous meeting.

Powell said, "The outlooks for employment and inflation have not changed much compared to the last meeting." However, he added, "Inflation remains somewhat high."

Markets interpret Powell's remarks as a message that, amid ongoing uncertainty surrounding the future path of monetary policy, the Fed may maintain a cautious stance until slowing inflation becomes more certain.