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Chair Powell On Fed vs. Household View Of The Economy

FED

Q: Does the general feel of US households square with the FOMC's view of the economy?

  • A: People don't like inflation - a lot. Many are experiencing it for the first time. It's showing up in surveys. We're determined to get it back down. It's an incredibly unpopular and painful thing. Need to make sure the public has the confidence the Fed has the tools to get inflation down. Will take some time but we will do that.
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Q: Does the general feel of US households square with the FOMC's view of the economy?

  • A: People don't like inflation - a lot. Many are experiencing it for the first time. It's showing up in surveys. We're determined to get it back down. It's an incredibly unpopular and painful thing. Need to make sure the public has the confidence the Fed has the tools to get inflation down. Will take some time but we will do that.