Fed Policy to Stay Restrictive for Some Time, Powell Says

The Federal Reserve is committed to reducing inflation to 2% by tightening monetary policy. Despite economic slowdown, the labor market remains tight. Inflation is above target, but expectations are stable. The Fed raised interest rates and plans further increases to control inflation. The focus is on aligning demand with supply and maintaining price stability for long-term economic health.

What is the Federal Reserve's inflation target?

What actions has the Federal Reserve taken to address inflation?

What is the relationship between price stability and economic performance according to the Federal Reserve?

What does the Federal Reserve anticipate regarding future interest rate increases?

How has the labor market been described despite the economic slowdown?

What are the implications of high inflation on purchasing power?

What challenges does the Federal Reserve face in achieving its monetary policy goals?