TechFlow news, on November 15, according to Xinhua Finance, Federal Reserve Chair Jerome Powell delivered remarks in the early hours about the economic outlook and monetary policy path, stating that due to solid recovery in the U.S. economy and a robust labor market, there is no need to "rush" into cutting interest rates at present. He emphasized that while inflation has come down from its peak and is moving toward the 2% target, the process may be bumpy.
Powell stated that the Fed will continue to monitor economic data to adjust policy accordingly, aiming to achieve its dual mandate of maximum employment and price stability. Current economic growth remains strong, with consumer spending increasing, though the housing market continues to underperform. Market analysts suggest inflation could remain above the Fed's 2% target for some time, adding uncertainty to the policy trajectory following the December meeting.
In addition, when asked about his term, Powell merely stated he intends to fulfill his current term as chair, with his seat on the Board of Governors expiring in January 2028. Regarding the potential impact of Trump returning to the White House, Powell noted the Fed would have ample time to assess any related policy changes.
