Jerome Powell on inflation
From Watch live: Powell testifies before House after keeping interest rates steady · · The Hill
“I think we have low inflation, we've got a period here of very low unemployment, we have high inflation. So can we have the best of both worlds? We certainly can, and that's the plan. We will, we're going to return to 2% inflation. I'm reasonably confident. Some people argue that we're entering into a world of a lot of upward inflation shocks. That would be a challenging world, but you know, that remains to be seen.”
On , Jerome Powell, Chair at Federal Reserve of the United States, spoke about inflation during Watch live: Powell testifies before House after keeping interest rates steady on The Hill.
About Jerome Powell
Jerome Powell, the former chair of the U.S. Federal Reserve, received the 2026 John F. Kennedy Profile in Courage Award in May 2026 at a ceremony in Boston. In his acceptance speech, Powell said the Federal Reserve had been undergoing a "stress test," and warned against political interference in monetary policy. He stated that the Fed makes its decisions based on economic analysis and does not "take into account the fortunes of any political party or politician in making those decisions." Powell argued that legal protections insulating the Fed from political pressure have served the public well, and said that "if any administration finds a way to remove Fed officials over policy differences, then future administrations will do so as well," adding that the Fed's credibility would be lost. Powell’s eight-year term as Fed chair ended on May 15, 2026. He announced during an April FOMC press conference that he would remain on the Board of Governors for an unspecified period, saying his decision was driven by concerns over "legal attacks on the Fed" by the administration. He stated he planned to keep "a low profile" and that Kevin Warsh, once confirmed and sworn in, would be the new chair. In his last FOMC press conference, the committee held interest rates steady, noting that inflation was elevated in part due to rising global energy prices and citing a high level of uncertainty in the economic outlook.