Unable to achieve inflation targets in the next two years, Federal Reserve Chairman: The US economy may fall into recession
According to Reuters, on June 28th local time, Federal Reserve Chairman Powell stated that the US economy may enter a recession, and the Federal Reserve's goal of restoring inflation to 2% may not be achieved until 2025.
Powell said at a panel discussion hosted by the European Central Bank, "For me, an economic recession is not the most likely scenario, but it is definitely possible. I don't think the US inflation rate will reach 2% this year or 2024, and it may be achieved by 2025."
Powell said that the United States is likely to extend the period of monetary policy tightening and may slow down the pace of interest rate hikes at an appropriate time. "The Federal Reserve's point chart predicts that the vast majority of people support two more rate hikes. I am unlikely to take consecutive rate hikes, but as long as necessary, the Federal Reserve will implement more restrictions."