Federal Reserve Chair Jerome Powell on Tuesday reiterated his determination to curb inflation but said the central bank could achieve a “soft landing” for the US economy rather than a severe downturn.
“There are a number of plausible paths to a soft landing,” Powell said during a moderated discussion at a Wall Street Journal event.
Powell said a soft landing is like a bumpy plane descent that all frequent flyers have experienced.
Powell said “there could be some pain for Americans” as the Fed moves decisively to lower inflation.
US stocks DJIA, +1.29% SPX, +1.92% stayed in solid positive territory after Powell finished his speech. The yield on the 10-year Treasury note TMUBMUSD10Y, 2.974% rose to just under 3%.
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