Powell speech: Will be patient if there is a transitory increase in inflation

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FOMC Chairman Jerome Powell is delivering his comments on the US economy and the policy outlook at the Wall Street Journal Jobs summit.

Key takeaways

“4% would be a nice unemployment rate to get to but would take more than that to reach max employment.”

“It’s highly unlikely to get to max employment this year.”

“Would be concerned by disorderly conditions in financial markets.”

“Rising vaccinations, fiscal support mean we could see job creation picking up.”

“Any change in Fed’s asset purchases would need actual progress toward goals; will take some time to achieve substantial further progress.”

“There’s a lot of ground to cover before we get to that.”

“If we do see a transitory increase in inflation, I expect will be patient.”

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