Powell: Even with surging energy prices, policies remain in a "good position"

MaticHoleFiller · 2026-04-01T19:47:57+00:00

Federal Reserve Chairman Powell stated that, in the face of complex economic conditions and rising energy prices, the current interest rate level is appropriate. He emphasized the need to remain cautious when responding to oil price fluctuations and to avoid raising interest rates at inopportune times to avoid putting pressure on the economy.

MaticHoleFiller

2026-04-01 19:47:57

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Federal Reserve Chair Jerome Powell said on Monday that given the complex situation of the current economic environment—especially the rise in energy prices—he believes the current interest rate level is appropriate.

Speaking at an event at Harvard University, Powell said: “We are facing events in the Middle East, which will undoubtedly affect gas prices. We feel that our policy is in a good position, and it allows us to watch how events unfold.”

Powell pointed out that raising interest rates now to deal with a surge in oil prices could have negative effects in the future.

He added: “By the time the effects of monetary policy tightening become apparent, the oil price shock may already have passed, and at that point it would be inappropriate to put pressure on the economy. Therefore, the preferred approach is to take a wait-and-see stance toward any kind of supply shock.”

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