Fed Chairman Powell comments today, from WSJ and Barrons
Last year, rebounding supply supported U.S. growth in spending and also employment, alongside a considerable decline in inflation,” Powell said at the Wilson Center think tank in Washington, D.C., on Tuesday afternoon. “The more recent data show solid growth and continued strength in the labor market, but also a lack of further progress so far this year on returning to our 2% inflation goal.”
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The recent data have clearly not given us greater confidence” that inflation is making progress to the Fed’s goal “and instead indicate that it is likely to take longer than expected to achieve that confidence,”