Ella 
Federal Reserve Chairman Jerome Powell participated in a fireside chat on North American economic trends at the Wilson Center’s Washington Forum in Washington, DC.
Powell said the U.S. economy is performing quite strongly. He added that recent data suggested a lack of significant progress in inflation this year. Powell noted that while the economy continues to be strong, the labor market is transitioning to a better balance.
U.S. economy’s performance ‘pretty strong’
Recent data points to lack of further progress in inflation this year
Even as the economy continues to be strong, the labor market is transitioning to a better balance.
Broader wage pressures are gradually easing.
Twelve-month core PCE inflation was estimated to be little changed in March.
The Fed is taking a cautious approach not to overreact to last year’s drop in inflation; recent data has not given the Fed greater confidence.
If inflation continues to rise, the Fed can maintain current interest rates if needed.
More time is needed for restrictive policies to work.
