Powell: Inflation rate is expected to decline month-on-month

ChainCatcher news, according to Jinshi reports, Federal Reserve Chairman Powell stated that the U.S. economy is performing very well, with a very strong labor market. In the first quarter, there was no further progress on U.S. inflation, but there are currently no expectations that the path of inflation will be smooth, and patience is required for policies to take effect.

The Federal Reserve expects GDP to continue to grow at a rate of 2% or higher, with less confidence in the decline of inflation than before, and anticipates that the inflation rate will decrease month-on-month.