Powell's testimony: There is no need to rush to adjust interest rates, 2% inflation is still the target

According to BlockBeats, on February 12th, Federal Reserve Chairman Powell attended a hearing of the Senate Committee on Financial, Housing, and Urban Affairs, gave semi annual monetary policy testimony, and answered questions from lawmakers. The key points of Powell's testimony include: ·Inflation has significantly approached the long-term target of 2%, although it is still slightly higher. We are closely monitoring various risks under the dual mission objectives. ·Recent data shows that economic activity continues to expand at a steady pace. ·Various broad indicators indicate that the overall labor market is in a balanced state and has not exerted significant pressure on inflation. ·We will continue to reduce the size of securities held by the Federal Reserve. ·The restrictive nature of monetary policy has been significantly reduced, while the economy remains strong, so there is no need to rush to adjust policy stance. ·The FOMC will comprehensively evaluate the latest data, changes in the economic outlook, and risk balance. With the development of the economy, the Federal Reserve will adjust its policy stance to maximize employment and price stability. (Golden Ten)