Powell Not Prepared Yet to Say He’s Confident About Inflation
- Fed chief says ‘quite a lot of progress’ made on balance sheet
- Powell returns to Capitol Hill for second day of testimony
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Federal Reserve Chair Jerome Powell said he believes inflation is receding, but isn’t yet confident that price gains are sustainably slowing to the central bank’s 2% goal.
“I do have some confidence” that inflation is receding, the Fed chief told House lawmakers on his second day of testimony in Washington.