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Fed Chair Powell: The current policy stance is good, and a wait-and-see attitude can be taken
Odaily News The chairman of The Federal Reserve (FED), Powell, stated that the current policy stance is good, and a wait-and-see attitude can be adopted, with the policy being moderately restrictive. It is a good time to step back and clarify the situation. It is still too early to say what kind of monetary policy should be taken in response. Recently, progress towards the 2% inflation target has slowed. In the 12 months ending in February, the PCE price index rose by 2.5%. The core PCE price index, which excludes the more volatile food and energy categories, rose by 2.8%. Looking ahead, higher tariffs will play a role in our economy and may increase inflation in the coming quarters. From most indicators, long-term inflation expectations (inflation expectations for the next few years) remain well anchored and consistent with the 2% inflation target. We remain committed to sustainably restoring the inflation rate to the 2% target. (Jin10)