In a recent speech, Powell elaborated on the direction of US monetary policy.

He stressed that the Fed must carefully evaluate various economic indicators before adjusting interest rates. If the labor market shows unexpected weakness, the Fed will act decisively to respond.

At the same time, he also recognized the risks of cutting interest rates too early or too late, and emphasized that wage growth is gradually stabilizing, but still above the equilibrium level.

Looking ahead, Powell expects inflation to return to the Fed's 2% target by the end of next year or the year after. When asked about the impact of politics on monetary policy, he firmly supports the independence of the Federal Reserve and emphasizes that this is the key to maintaining economic stability.

Speaking of the US government deficit, he frankly admitted that the deficit is large and the trend is unsustainable, and called for measures to be taken as soon as possible to solve it. In addition, he also expressed concern about the unemployment rate in the United States, believing that if it can be stabilized at a reasonable level, it will have a positive impact on the economy.

He optimistically predicted that in a year, the inflation rate should be controlled at or below 2%, laying a solid foundation for the continued healthy development of the economy.

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