Fed Chairman: No further progress has been made in US inflation in Q1, and the inflation rate is expected to fall month-on-month

PANews reported on May 14 that according to Jinshi, Fed Chairman Powell delivered a speech saying that the US economy is performing very well and has a very strong labor market. The labor market is returning to a better balance. The labor market is now as tight as it was before the COVID-19 pandemic. There was no further progress in US inflation in the first quarter. We do not expect the inflation path to be smooth, and we must wait patiently for policies to work. We expect GDP to continue to grow at a rate of 2% or higher. The inflation rate is expected to fall month-on-month.