United States Federal Reserve Chair Jerome Powell said on Thursday that the recession in the US is not "inevitable." The comment comes in concordance with US President Joe Biden's statement on the topic.
Powell also told the Congress that Fed is committed to having a "mostly treasury balance sheet" and that the central bank is yet to decide on when it will be selling mortgage-backed securities.
Previously, Powell assured that the Fed is keeping inflation expectations anchored at the moment, but warned that this might not be enough to keep the people's confidence in the possibility of reducing inflation.