Fed Chair Powell: The U.S. Economy Has Weathered a Global Pandemic and Its Aftermath, and Is Now Back to a Good Place

TRANSCRIPT:

POWELL: “I have just a few brief comments on the economy and monetary policy before we move to our conversation. So, looking back, the U.S. economy has weathered a global pandemic and its aftermath and is now back to a good place. The economy has made significant progress toward our dual mandate goals of maximum employment and stable prices. The labor market remains in solid condition. Inflation has eased substantially from its peak, and we believe it is on a sustainable path to our two percent goal.”