Fed's Powell: Fed independence means monetary policy decisions can't be reversed, or reviewable

Good afternoon. Thank you to the World Affairs Council, the Federal Reserve Bank of Dallas, and the Dallas Regional Chamber for the kind invitation to be with you today. I will start with some brief comments on the economy and monetary policy. Looking back, the U.S. economy has weathered a global pandemic and its aftermath and is now back to a good place. The economy has made significant progress toward our dual-mandate goals of maximum employment and stable prices. The labor market remains in solid condition. Inflation has eased substantially from its peak, and we believe it is on a sustainable path to our 2 percent goal. We are committed to maintaining our economy's strength by returning inflation to our goal while supporting maximum employment. post: Fed’s Powell: Economy Not Signalling Need To Hurry Rate Cuts - Can Approach Decisions Carefully Amid Strong US Economy - Inflation Is Heading To 2% Target On ‘Sometimes Bumpy Path’ https://t.co/iH5itaCCCl post: FED'S POWELL: MOVING POLICY OVER TIME TOWARD NEUTRAL, POLICY PATH IS NOT PRESET. post: FED'S POWELL: THE LABOR MARKET IS SOLID, INFLATION IS ON A SUSTAINABLE PATH TO 2%. post: FED'S POWELL: RECENT U.S. ECONOMIC PERFORMANCE REMARKABLY GOOD POWELL: LABOR MARKET HAS COOLED TO A POINT WHERE IT IS NO LONGER A SOURCE OF SIGNIFICANT INFLATIONARY PRESSURES POWELL: FED IS CLOSELY TRACKING GRADUAL DECLINE IN HOUSING SERVICES INFLATION, WHICH HAS YET TO FULLY…