Powell: We're Moving Slowly as We Approach 2% Inflation

The transcript discusses changes in economic forecasts, highlighting stronger-than-expected growth and lower unemployment rates. It emphasizes the challenges and uncertainties in economic forecasting, particularly in predicting inflation trends. Recent data shows significant declines in core inflation, mainly in goods and housing services. The discussion also covers the rationale behind current monetary policy decisions, stressing the need for careful adjustments as inflation approaches the target rate.

What factors contributed to the decision to lower the unemployment forecast significantly?

How does the speaker describe the nature of economic forecasting?

What are the implications of moving quickly in rate increases according to the speaker?

What does the speaker suggest about the relationship between inflation and the stance of monetary policy?

Why is it important to consider the risks of over-tightening and under-tightening in monetary policy?