Jerome Powell and EBC Lagarde speak at ECB forum

Jerome Powell from the Fed and Christine Lagarde from ECB speaks today at banking ECB forum. Here are some of the comments:

• The US economy is still strong, and labour market came in better balance. Probably US inflation has peaked 
• Inflation may return to 2% late next year or the following year
• Able to ‘to take our time and get this right’
• Need to see more data similar to what we've been seeing recently

The main line from Jerome Powell’s comments is that disinflation appears to be resuming -- a conclusion reached after recent benign inflation figures.Powell does note, though, that the Fed can take its time in ensuring that inflation is moving towards target, but he also noted that a marked deterioration in the labor market could prompt some action.