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.
