Federal Reserve Update from Jerome Powell

Highlights of today’s Fed speech from Jerome Powell:

- Hope to balance labor market by slowing job growth.

- Fed has domestic mandate but monitors global economy.

- Best thing for the world economy is to control US inflation.

- Chinese shutdowns may hurt supply chains.

- Job shortage will spur labor-replacement technology.

- Feds don’t want to crash the economy through rate hikes.

- There’s a path to a soft landing.

- The pace of rate increases may moderate as soon as the December meeting.

- Inflation has spread broadly through economy.

After listening to Powell's speech, overall, I am feeling even more bullish about 2023!