| Powell’s latest comments |
| Here’s one of the most important segments from Powell on the economy, which reflects a definitive change in tone since the Fed’s last policy meeting in early February — the expectation of a fast recovery isn’t the likely case, and bumpiness should be expected. “The latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated,” Mr. Powell said in the remarks prepared for delivery before the Senate Banking Committee. “We will continue to make our decisions meeting by meeting. Although inflation has been moderating in recent months, the process of getting inflation back down to 2% has a long way to go and is likely to be bumpy.” (WSJ) |
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