CHAIRMAN POWELL REITERATES FED IS ON HOLD FOR THE LONG HAUL
CHAIRMAN POWELL REITERATES FED IS ON HOLD FOR THE LONG HAUL
Fed Chairman Powell testified before US Congress as part of his semi-annual testimony.
He stated the US economy is strong, the labor market is solid, and inflation is easing but still above the 2% target.
Powell defended the Fed's stance, emphasizing strong economic growth despite restrictive policy.
He warned against easing policy too quickly, as it could lead to another wave of inflation.
