Powell Testimony: No Need to Rush Rate Adjustments, 2% Inflation Still the Goal

BlockBeats News, February 12th, Federal Reserve Chairman Powell attended the Senate Committee on Banking, Housing, and Urban Affairs hearing, delivered the semiannual monetary policy testimony, and answered lawmakers' questions. Key points of Powell's testimony include:

· Inflation has now largely approached the 2% long-term target, although still slightly above. It is closely monitoring various risks under the dual mandate.

· Recent data shows that economic activity continues to expand at a solid pace.

· Various broad indicators indicate that the overall labor market is in balance and has not exerted significant pressure on inflation.

· Will continue to reduce the size of the Federal Reserve's holdings of securities.

· Monetary policy restraint has been significantly reduced while the economy remains strong, so there is no need to rush to adjust the policy stance.

· The FOMC will comprehensively assess the latest data, changes in economic outlook, and the balance of risks. As the economy evolves, the Federal Reserve will adjust its policy stance to maximize employment and price stability. (Jinshi)

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