Powell: Progress towards the 2% inflation target has slowed

ChainCatcher news, Federal Reserve Chairman Powell delivered a speech on the economic outlook, stating: "Recently, our progress toward the 2% inflation target has slowed. Over the 12 months ending in February, the PCE price index rose by 2.5%. Excluding the more volatile food and energy categories, the core PCE price index increased by 2.8%.

Looking ahead, higher tariffs will play a role in our economy and may raise inflation in the coming quarters. From most indicators, long-term inflation expectations (inflation expectations for the next few years) remain well anchored and consistent with the 2% inflation target. We remain committed to sustainably restoring the inflation rate to the 2% target."