Key Insights
- Fed Chair Jerome Powell spoke at the Jackson Hole Symposium.
- Powell noted that Fed was ready to raise rates further in case inflation remained at high levels.
- The Fed remains determined to push inflation towards its 2% target.
On August 25, Fed Chair Jerome Powell delivered his speech at the Jackson Hole Symposium.
He started his speech by saying that Fed was prepared to raise rates further if necessary. The central bank is ready to hold rates at high levels to ensure that inflation pulls back towards the Fed’s 2% target.
According to Powell, it’s too early to celebrate progress after several months of good data. Fed Chair noted that the labor market remained tight. To get to the 2% target, the economy should experience a period of below-trend growth, while the labor market should become less tight.
Powell…
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