US Fed Chair Powell Vows to Tame Inflation to 2% Target

• US Federal Reserve Chairman Jerome Powell reaffirmed commitment to bringing inflation down to 2 percent.
• Powell stated monetary policy is in a position to assess conditions by waiting.
• Acknowledged potential for energy price hikes due to West Asia conflict but typically ignores short-lived supply shocks.
• Warned that prolonged high inflation could alter expectations, prompting Fed action.
• Market anticipates stable interest rates for the year, despite geopolitical and labor market risks.