On June 22 local time, US Federal Reserve Chairman Powell gave testimony on the semi annual monetary policy report in the Banking Committee of the US Senate< Br>
Powell said in his prepared speech that the Federal Reserve is highly concerned about the risks posed by high inflation to the dual tasks of maximizing employment and stabilizing prices, and is firmly committed to restoring the inflation rate to the target of 2%< Br>
Powell said that since last autumn, the financial situation has been tightening; Now it has tightened significantly, which reflects the policy actions taken and expected actions to be taken by the Federal Reserve< Br>
“in the next few months, we will look for convincing evidence that inflation is falling back to the 2% target.” Powell said that it would be appropriate for the Federal Reserve to continue raising interest rates; The rate of interest rate increase depends on the future data and economic prospects, and decisions will be made at each meeting< Br>
Powell said that he would continue to convey the Fed’s ideas as clearly as possible. The first priority is to use the tools of the Federal Reserve to reduce the inflation rate to the target of 2% and maintain a good anchor of long-term inflation expectations< Br>
“we will try to avoid adding uncertainty in an already challenging and uncertain period.” Powell also said that the US economy is very strong and can well cope with the tightening monetary policy.