Fed's Powell: No Preset Course for Gradual Rate Increases

Jay Powell discusses the Federal Reserve's approach to monetary policy, emphasizing a data-driven and cautious strategy. He highlights the importance of gradual interest rate increases, the impact of global economic factors, and the Fed's communication challenges. Powell also addresses the Phillips curve, the role of the dollar, and the need for stable inflation and employment. The discussion covers the Fed's tools and the broader economic challenges, including low productivity and growth.

What does Powell say about the credibility of the Fed in light of recent criticisms?

How does Powell describe the current tools used by the Fed for monetary policy?

What does Powell believe is necessary to support economic activity?

What are Powell's expectations for inflation in the coming years?