Powell: Inflation Not Only Risk to the Economy

Federal Reserve Chair Jerome Powell emphasized today that high inflation is not the only threat to the U.S. economy, highlighting the complexity of the current economic landscape. Speaking before Congress, Powell reiterated his cautious stance on interest rates, stressing the need for more substantial evidence of cooling inflation before making any cuts.

Powell acknowledged that recent data indicating a slight rise in unemployment could influence the Fed's decision to reduce rates sooner. "We are seeing some positive trends in the economic data," Powell noted, but he also cautioned. . .