Powell: Progress on Achieving 2% Inflation Target Has Slowed

BlockBeats News, April 4th, Fed Chair Powell stated in his keynote speech on the economic outlook: Recently, the progress we've made toward our 2% inflation goal has slowed. Over the 12 months ending in February, the PCE price index increased by 2.5%. Excluding the volatile food and energy categories, core PCE prices rose by 2.8%. Looking ahead, higher tariffs will play a role in our economy and could push inflation up over the next several quarters. Based on most indicators, longer-term inflation expectations (inflation expectations over the next few years) remain well anchored and are consistent with our 2% inflation objective. We remain committed to achieving a sustained return to our 2% inflation goal. (FXStreet)