Powell Q&A: Inflation is still well-above target but moving in the right direction

We’ve been surprised on the upside this year with growthInflation is still well-above target but moving in the right directionPeople who dropped out of the labor market in the pandemic came back in 2023 and we had more immigrationWe think the right thing to do right now is to move carefullyIt will be awhile before we understand how AI impacts the economy and whether it adds to jobs or displaces themAs long as unemployment remains low with wages rising, some spending will continue

Powell was asked about holiday party plans and said “For me a big, big party, as good as it gets, is a really good inflation report.”

This article was written by Adam Button at www.forexlive.com.