Powell opening statement: Risks are moving into better balance

• Inflation has eased substantially but is still too high
• Path forward is uncertain
• Economy has made considerable progress
• Risks are moving into better balance
• Activity in the housing sector was subdued last year
• GDP has been bolstered by strong consumer demand as well as healing supply chains
• Longer-term inflation appear to remain well anchored
• Inflation has eased notably
• We’re likely to cut rates at some point this year
• General sense is to slow the pace of balance sheet runoff fairly soon

The US dollar is under some pressure again.

This article was written by Adam Button at www.forexlive.com.