"Chair Powell Addresses Global Monetary Policy Challenges at IMF Conference"

Federal Reserve Chair Jerome Powell discussed U.S. monetary policy in the current global inflation episode during a panel discussion at the 24th Jacques Polak Annual Research Conference. Powell acknowledged that while U.S. inflation has come down over the past year, it remains above the 2 percent target. He highlighted the challenges of achieving sustainable inflation reduction and emphasized the importance of a restrictive monetary policy stance. Powell also addressed three key questions related to the causes and policy implications of the current inflation, the approach to supply shocks, and the future level of interest rates. He emphasized the need for ongoing analysis and learning from the experiences of the past few years to inform future monetary policy decisions.