Fed Chair Powell: Committed to sustainably bringing inflation down to 2%
CNBC
Last updated: April 30, 2026
Federal Reserve Chair Jerome Powell discussed the FOMC's decision to maintain the current policy rate. His primary focus remains on achieving a sustainable 2% inflation target for the U.S. economy.
- The Federal Reserve has decided to hold its benchmark interest rate steady, indicating a pause in its aggressive rate-hiking cycle. This decision reflects a careful assessment of economic conditions and the ongoing progress in combating inflation.
- Chair Powell emphasized the Federal Reserve's unwavering commitment to bringing inflation down to its long-term target of 2 percent. This goal is considered crucial for sustainable economic growth and stability.
- The committee will continue to monitor incoming economic data closely. This includes labor market conditions, inflation pressures, and financial developments to guide future monetary policy decisions.
- While acknowledging progress, Powell stressed that the fight against inflation is not yet over. The Fed is prepared to adjust its policy as necessary to ensure price stability.
- The FOMC will consider further policy firming if incoming information indicates that the stance of monetary policy is not sufficiently restrictive.
- The economic outlook remains uncertain, and the Federal Reserve will proceed with caution, prioritizing its mandate of maximum employment and price stability.
- The decision to hold rates steady aims to allow more time to assess the cumulative effects of past policy actions on the economy and inflation.
