UPDATE: Fed's Powell repeats he doesn't see prices staying up and moving inflation expectations

(Updated - March 4, 2021 12:33 PM EST)

(Updated - March 4, 2021 12:23 PM EST)

Fed Chairman Powell Begins Speaking at WSJ Jobs Summit

• Powell Says Strongly Committed to Achieving its Goals
• Still Long Way From Goals
• Inflation Running Below 2%, Expects Inflation to Move Up as Economy Improves
• Unlikely that deeply ingrained low inflation expectations would change
• Expect any near term inflation rise will be transitory
• Will take some time to get back to full employment
• Maximum employment unlikely this year
• Would be concerned by disorderly financial conditions in markets or persistent tightening of financial conditions
• Fed will be patient if sees transitory rise in inflation
• Powell repeats would be concerned by disorderly financial conditions in markets or persistent tightening of financial conditions
• Key thing is to keep 2% inflation expectations anchored
• Rate liftoff guidance is pretty specific, will take time to get there
• Right now we've not been make much progress
• Repeats it will take time before seeing progress on goals
• Fed's Powell says thinks current policy stance is appropriate
• Fed's Powell says won't speculate on potential changes to policy
• High inflation is very bad state of affairs but you have to differentiate from one-time effects
• Fed's Powell repeats he doesn't see prices staying up and moving inflation expectations
• Fed lessons are attack quickly and don't hold back, don't stop until job is done
• Declines to answer question on size of stimulus

You May Also Be Interested In

• Powell said QE taper will in all likelihood be well before interest rate hike
• Powell Says Crypto is Speculative Vehicles Like Gold
• S&P 500, Dow rise on boost from bank earnings