Fed Chair Powell Comments on Economic Expansion and Inflation Levels

U.S. Federal Reserve Chair Jerome Powell stated on March 19 that the economy is expanding, although inflation remains slightly elevated. According to BlockBeats, Powell emphasized that the current policy stance is appropriate and that the Fed will closely monitor various risks. The impact of developments in the Middle East remains uncertain. He noted that the unemployment rate has seen little change since last summer and reiterated that labor demand has significantly cooled.