Powell: Long-term inflation expectations remain solid; no rush to address energy shocks for now

BlockBeats message, March 30, on Monday, Federal Reserve Chair Jerome Powell said that even though the current energy shock is still ongoing, long-term inflation expectations appear to remain steady, and the Federal Reserve does not yet need to decide how to respond to the latest situation. He said at Harvard University: “Inflation expectations beyond the short term still appear to be solid.” When discussing the energy shock related to the war with Iran, he said: “We do not yet know its specific impact on the economy, but given that inflation is long-term above the 2% target level, we will closely monitor how it affects price pressure.”