Fed Chair Jerome Powell has just delivered his speech

Fed Chair Jerome Powell has just delivered his speech at the Jackson Hole Symposium. In his speech, Powell highlighted the importance of the current fight against inflation.

He noted that central banks must deliver low and stable inflation, aiming for price stability. Powell added that public’s expectations were an important factor.
Powell added that the Fed would make forceful and rapid steps to moderate demand. However, he also said that it might be appropriate to slow the pace of rate hikes in the future. As usual, the Fed’s decisions will depend on the data.