Fed Chairman Powell: Despite increased uncertainty, the economy is in a solid position

PANews June 24 news, Federal Reserve Chairman Powell submitted semi-annual monetary policy report testimony to Congress, Powell pointed out that the Fed remains focused on achieving its dual mission goals of maximizing employment and stabilizing prices for the benefit of the American people. Despite increased uncertainty, the economy is in a solid position. The unemployment rate remains low and the labor market is at or near maximum employment. The inflation rate has fallen sharply, but is still slightly above the Fed's long-term target of 2%. The Fed is mindful of the two-way risks of their dual mission.