Fed Chairman Powell: The current policy stance is good and we can take a wait-and-see approach

Odaily Planet Daily News: Federal Reserve Chairman Powell said that the current policy stance is good, a wait-and-see attitude can be adopted, and the policy is moderately restrictive. Now is a good time to step back and sort out the situation. It is too early to say what kind of monetary policy response should be taken. Progress in achieving the 2% inflation target has slowed recently. In the 12 months ending in February, total PCE prices rose 2.5%. Core PCE prices, excluding volatile food and energy categories, rose 2.8%. Looking ahead, higher tariffs will play out in our economy and may raise inflation in the coming quarters. By most indicators, long-term inflation expectations (expectations for inflation over the next few years) remain well anchored and consistent with the 2% inflation target. We remain committed to sustainably restoring inflation to the 2% target. (Jinshi)