Speech by Chair Powell on inflation and the labor market
Summary: Inflation is is lower (ie: the prices continue to increase, but at a rate slower than expected). The 2nd derivative of prices is down with an (expected, at the time of the speech) PCE of 6.0% YoY.<p>Powell still thinks that inflation will take a lot of work to tame and expects interest rates to remain elevated. But these results here are _better than expected_, so the stock market &#x2F; bond market responded quite favorably this past Wednesday.