Federal Reserve Chairman Jerome Powell on Tuesday stressed his resolve to curb inflation but said the central bank could achieve a “softish landing” for the U.S. economy rather than a severe downturn.
“There are a number of plausible paths to having.. a softish landing,” Powell said, during a moderated discussion at a Wall Street Journal event.
Powell said a softish landing was like a bumpier aircraft descent that all frequent fliers have experienced.
Powell said “there could be some pain” for Americans as the Fed moves resolutely to bring down inflation.
remained in solid positive territory after Powell finished speaking. The yield on the 10-year Treasury note
rose to just below 3%.