Powell Says It's Not Time to End Bond Buying Program

In his statement, Powell provides an optimistic view of the economic recovery, noting strong growth but cautioning against reducing monetary support too soon. He acknowledges rising inflation, attributing it to reopening and supply chain issues, and expects it to moderate. Powell highlights labor market improvements but notes minorities have yet to benefit significantly. The Fed will continue discussions on tapering. Speculation surrounds Powell's reappointment as Fed chairman, but he remains focused on his current role.

What is the Federal Reserve's current stance on monetary policy according to Powell?

• They are planning to increase interest rates soon.

• They are cutting back on monetary policy support immediately.

• They are undecided about their monetary policy stance.

• They are maintaining the current target range for the federal funds rate.

What factors does Powell attribute to the recent increase in inflation?

• Government stimulus packages.

• Rising oil prices.

• Reopening of the economy and supply chain challenges.

• Increased consumer spending and high demand.

What is the Federal Reserve's long-term inflation goal?

• 1%

• 2%

• 3%

• 4%

How does Powell view the current state of the labor market?

• The labor market is fully recovered.

• Minorities have seen significant benefits.

• Job gains are expected to be strong in the coming months.

• The labor market is deteriorating.

What is Powell's response to questions about his reappointment as Fed chairman?

• He has expressed disinterest in continuing as chairman.

• He has announced his retirement plans.

• He is focused on his current job and leaves the decision to the president.

• He is actively campaigning for reappointment.