Powell Highlights Strong Labor Market Amidst Inflation Concerns

Federal Reserve Chair Jerome Powell’s latest remarks emphasize a strong and balanced labor market that does not currently pose inflationary pressure. According to Odaily, Chair Powell affirmed the current state of employment strength while acknowledging the continued rise in inflation. The Personal Consumption Expenditures (PCE) index is projected to increase by 2.3% over the year ending March, while the core PCE is expected to rise by a more significant 2.6%. This outlook highlights ongoing economic challenges.