Powell expressed cautious optimism about inflation 🎯

On the second day of testimony before Congress, Fed Chair Jerome H. Powell expressed cautious optimism about inflation trends, acknowledging some confidence that inflation is headed lower:

Powell emphasized that he is not yet sufficiently confident to declare a sustainable decline to the 2% target.
He underscored the importance of continued positive inflation readings to build greater confidence.
The Fed aims to ease policy before inflation reaches the 2% level.
Powell acknowledged the significant progress made on inflation.
He indicated that the Fed's current policy remains restrictive.
Powell highlighted that the economy is growing at an approximate rate of 2%.
Inflation and job numbers are favorable.
The neutral interest rate has likely moved up at least in the short term.
Powell stressed the need for more time to shrink the balance sheet.
His testimony underlined the Fed's cautious approach.
The focus is on ensuring that inflation trends downwards sustainably before making any policy adjustments.

28 August 2026, 7:01 PM

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