US Economy Shows Resilience, Says Fed Chair

In a recent testimony before the Senate Banking Committee, Jerome Powell, the Chair of the United States Federal Reserve, confidently stated that the US economy is not in a recession. Powell emphasized the economy's strength, describing it as being in a "pretty good place."

Soft Landing vs. Hard Landing: Powell's Perspective

While Powell refrained from declaring a soft landing for the economy, he was clear in his belief that the US has avoided a hard landing. This nuanced view underscores the complexity of current economic conditions and the challenges in steering monetary policy.

Inflation Progress: A Key Concern

Despite the positive outlook, Powell highlighted the need for more progress on inflation. His remarks reflect the ongoing balancing act faced by the Federal Reserve in fostering economic growth while keeping inflation in check.