TechFlow news, according to Jinshi Data, Federal Reserve Chair Powell said Friday that if necessary, the Fed stands ready to raise interest rates further, as progress made in reducing inflation, while encouraging, is far from complete.
There is still a long way to go to restore price stability. Powell said he is encouraged by the decline in inflation but is not yet fully convinced that price pressures will continue to fall sustainably to the Fed's 2% target, especially since inflation excluding food and energy prices remains more than twice the target level.
Powell also stated that he has no intention of changing the Fed's inflation target—2% is the Fed's inflation target, and it will remain so.
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