Jerome Powell on inflation
From Jerome Powell Testifies Before House Financial Services Cmte On Federal Reserve's Monetary Policy · · Forbes Breaking News
“We remain committed to bringing inflation back down to our two percent goal and to keeping longer-term inflation expectations well anchored. Reducing inflation is likely to require a period of below-trend growth and some softening in labor market conditions. Restoring price stability again is essential to set the stage for achieving maximum employment and stable prices over the longer run.”
On , Jerome Powell, Chair at Federal Reserve of the United States, spoke about inflation during Jerome Powell Testifies Before House Financial Services Cmte On Federal Reserve's Monetary Policy on Forbes Breaking News.
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.