PANews reported on April 4 that according to Jinshi, Federal Reserve Chairman Powell gave a speech on the economic outlook. He said that the current situation is different from the 1970s. People are facing the risk of higher unemployment and higher inflation, which is a challenge for the Federal Reserve. There may be tension between the two goals (employment and inflation), but not as we see now. The Fed's responsibility is to restore economic stability no matter what happens. Independence is crucial to the Federal Reserve. (Dealing with) problems brought about by trade policy, energy policy, climate change and immigration is not the responsibility of the Federal Reserve. The Federal Reserve cannot participate in issues that are not assigned to us. The Federal Reserve does not need to rush to act, we have time. It is not clear what the appropriate policy is, and the Federal Reserve will wait and see before adjusting its policy.
Powell said he intends to complete his term and said he enjoys the job very much. There is no absolute certainty in this job and mistakes can be made.
