TechFlow news, on June 24, according to Jinshi Data, Federal Reserve Chair Powell submitted testimony on the semiannual monetary policy report to Congress. Powell noted that the Fed remains focused on achieving its dual mandate goals of maximum employment and price stability for the benefit of the American people. Despite rising uncertainty, the economy is on solid footing. Unemployment remains low, and the labor market is at or near maximum employment. Inflation has declined significantly but remains slightly above the Fed's 2% long-term target. The Fed is attentive to the two-way risks of its dual mandate.
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