Watch Fed Chair Jerome Powell speak live to an economics class at Harvard
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Federal Reserve Chairman Jerome Powell speaks at the Principles of Economics class at Harvard University on Monday.
This will be Powell’s last scheduled public appearance before his term ends in May. The debate comes as markets predict the central bank will keep interest rates steady until the end of the year.
In his latest comments, Powell said the economy was growing at a “robust pace” and said he was not concerned about concerns about stagflation, low growth and high inflation. However, he noted that policymakers are taking a cautious approach as multiple factors emerge this year, including the Iran war, tariffs and a stagnant labor market.
Powell’s term officially ends on May 15, and he has only one more policy meeting until then. However, if the Senate does not confirm former Governor Kevin Warsh as his successor, it is possible that he will remain in office longer.
The nomination is currently pending in the Senate Banking Committee while U.S. Attorney General Jeanine Pirro continues her investigation into renovations at the Fed’s headquarters. A judge has already quashed a subpoena Pirro’s office sent to Powell, though Pirro is appealing that decision.
Read more:
Recession likelihood rises on Wall Street as economy shows cracks beneath the surface
Fed’s Goolsbee says concerned about inflation in ‘concerned but intense’ environment
Fed Governor Waller called for caution for now and said interest rate cuts were possible later in the year.
