Mumbai, Aug. 25 -- Federal Reserve Chair Jerome Powell delivered a highly-anticipated speech before the Jackson Hole Economic Symposium on Friday, although he touched only briefly on the outlook for monetary policy.
In prepared marks, Powell noted the labor market remains near maximum employment and inflation has come down a great deal from its post-pandemic high but cautioned "the balance of risks appears to be shifting."
Powell said the risks to inflation are tilted to the upside, while the risks to employment are tilted to the downside, which he called "a challenging situation."
"When our goals are in tension like this, our framework calls for us to balance both sides of our dual mandate," he said, referring to the Fed's dual goals of...