Summary
Federal Reserve Chair Jerome Powell explained that the Fed has not decided yet how to respond to the economic effects of the Iran war's impact on energy. During a talk, he mentioned that the current economic situation allows the Fed to wait and see before making any policy changes.
Key Facts
- Jerome Powell is the Chair of the Federal Reserve.
- The Fed is monitoring the effects of the Iran war on energy but hasn't made a decision yet.
- Powell mentioned the U.S. inflation rate is close to 2% but hasn't consistently stayed there.
- He stated that Americans' long-term inflation expectations remain stable.
- Powell addressed economics students at Harvard University about the Fed's policy approach.
- He joked about listening to students' ideas on handling economic shocks.
- Powell emphasized the importance of sticking to the Fed's main responsibilities.
- Powell's successor, Kevin Warsh, is awaiting confirmation by the Senate.
