economic outlook

Economic & Market Outlook

April 4, 2024

“We are on a good path”
–Fed Chair Jerome Powell

Despite ongoing economic growth, falling inflation, and low unemployment rates, Federal Reserve Chair Jerome Powell is not yet ready to declare victory in achieving a “soft landing,” a scenario where the economy slows down just enough to curb inflation without triggering a recession.

Speaking in early March, Powell informed the House Financial Services Committee that the central bank aims to support economic conditions that would further reduce inflation while maintaining solid growth and a healthy labor market.

Even with continued strong job growth and persistent high inflation, the Federal Reserve’s stance on lowering interest rates later in the year remains unchanged. Powell emphasized the need for more certainty about inflation’s downward trajectory before considering rate reductions. He advocated for a cautious approach to rate adjustments due to the continued strength of the economy and labor market.

However, Powell expressed optimism about the current trajectory, stating, “We are on a good path so far to be able to get there.”

Read The Full Report – Spring 2024


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