Fed Chair Jerome Powell: The economy is solid and inflation is down but still above the 2% target

PANews reported on June 24 that Federal Reserve Chairman Jerome Powell submitted a semi-annual monetary policy report testimony to Congress, and Powell pointed out that the Fed is still focused on achieving its dual mission goals, that is, maximizing employment and stabilizing prices for the benefit of the American people. Despite the increased uncertainty, the economy is in a solid position. The unemployment rate remains low and the labor market is at or near maximum employment. Inflation has fallen sharply, but is still slightly above the Fed's long-term target of 2%. The Fed is aware of the two-way risks of their dual mandate.