Appearing at Harvard, Jerome Powell Reaffirms the Fed's Commitment to Return Inflation to 2%

Federal Reserve Chair Jerome Powell stated that current inflation expectations remain stable and that the Fed is fully committed to bringing the target back to 2%. Speaking at Harvard University, Powell also defended the Fed's previous long-term asset purchase policies, stating that these measures effectively support the economy without triggering systemic inflation spikes.
​This statement comes amid Middle East turmoil that has pushed oil prices to critical levels. While acknowledging risks in the labor market, Powell emphasized that the Fed has not yet faced an urgency to change the interest rate policy in the near future. He noted that the economic impact of the current geopolitical situation is still difficult to predict accurately.
​Powell's appearance has drawn attention ahead of the end of his term on May 15. Amid ongoing delays in appointing a successor, Powell reaffirmed that the Fed's main focus remains on price stability and close monitoring of inflation risks.