Powell: Fed lacks certainty on transitory inflation but believes it to be the case
More from the Fed chair
- If we don't see upward pressure on inflation and wages then we won't say the labor market is tight
- I think we'll be able to get back to 3.5% unemployment
- Quite sure we can get to high levels of labor force participation again
- There is every reason to think employment will reach pre-pandemic levels
- We can't know what labor force participation will be
- At certain point, Fed's narrative on inflation will 'flip' if inflation doesn't come down
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