United States Federal Reserve Chair Jerome Powell said on Wednesday that the Federal Reserve is not trying to induce a recession. "We're trying to achieve 2% inflation consistent with a strong labor market. That's what we're trying to do," Powell told reporters while assuring that the market remains strong, despite the recent data.
Elaborating on his response Powell also emphasized that there are many pathways to achieving the Fed's goal, "but those pathways have become much more challenging due to factors that are not under our control."
"There's no sign of a broader slowdown," he further mentioned. "We see job growth slowing, but it's still at quite robust levels. We see the economy slowing a bit, but there are still healthy levels of growth."
