Jerome Powell Sees ‘Challenging Situation’ Ahead, Says There Is No Risk-Free Path
The Fed Chair stated that the weakness in the labor market prompted the central bank to cut the policy rate last week.
Federal Reserve Chair Jerome Powell said on Tuesday that there is a “challenging situation” facing the central bank as it tries to balance both sides of its dual mandate: stable prices and maximum employment.
“Near-term risks to inflation are tilted to the upside and risks to employment to the downside — a challenging situation. Two-sided risks mean that there is no risk-free path,” Powell said.
The Fed Chair stated that the weakness in the labor market prompted the central bank to cut the policy rate by 25 basis points last week.
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