Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Powell: Fed reviewing framework as inflation nears target, will adjust policy by data
Summary
Federal Reserve Chair Jerome Powell told the House Financial Services Committee the Fed has made progress on inflation, is conducting a five‑year review of its monetary policy framework and will “adjust our policy stance” based on incoming data and risks to the dual mandate of maximum employment and price stability.
Federal Reserve Chair Jerome Powell told the House Financial Services Committee that the central bank remains focused on its dual mandate of maximum employment and price stability and will finish a review of its monetary policy framework by late summer.
The Fed has made progress bringing inflation down from its peak, Powell said, but inflation remains above the Committee’s 2 percent longer‑run goal. “We will adjust our policy stance in a manner that best promotes our maximum employment and price stability goals,” Powell said in his opening testimony. He added that the FOMC will assess incoming data and the balance…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
