News

The Fed: Fed’s Powell says a ‘softish landing’ for U.S. economy is plausible

0

Federal Reserve Chairman Jerome Powell on Tuesday stressed his resolve to curb inflation but said the central bank could achieve a “softish landing” for the U.S. economy rather than a severe downturn.

“There are a number of plausible paths to having.. a softish landing,” Powell said, during a moderated discussion at a Wall Street Journal event.

Powell said a softish landing was like a bumpier aircraft descent that all frequent fliers have experienced.

Powell said “there could be some pain” for Americans as the Fed moves resolutely to bring down inflation.

U.S. stocks
DJIA,
+1.08%

SPX,
+1.62%

remained in solid positive territory after Powell finished speaking. The yield on the 10-year Treasury note
TMUBMUSD10Y,
2.958%

rose to just below 3%.

Mining Stock News: Millbank Mining (TSXV: MILL) Announces Results from IP Geophysical Program at Arthur Lake

Previous article

Personal Finance Daily: Travelers are hitting the road this Memorial Day Weekend but will pay more for airfares and gas and Americans have bet $125 billion on sports in the past four years

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in News