Fed's Powell: Past rate cuts should help stabilize the labor market

*POWELL: IF WE DON'T SEE INFLATION PROGRESS, WON'T SEE RATE CUT Fed's Powell: Most longer-term expectations are consistent with the 2% goal. FED'S POWELL: PROGRESS ON GOODS INFLATION IS KEY FOCUS; CRUCIAL TO SEE REDUCTION THIS YEAR POWELL: 'WE JUST DON'T KNOW' WHAT EFFECTS OF ENERGY RISE WILL BE FED'S POWELL: WON'T TAKE LOOKING THROUGH INFLATION LIGHTLY; ENERGY PASS-THROUGH QUESTION ONLY ARISES AFTER GOODS INFLATION BOX IS CHECKED; CONTEXT OF FIVE YEARS ABOVE TARGET MATTERS

Fed's Powell: We're very strongly committed to keeping inflation expectations anchored at 2%. *POWELL: FED IS IN DIFFICULT SITUATION, NEEDS TO BALANCE RISKS POWELL: WHERE POLICY IS NOW IS THE RIGHT PLACE TO BE Fed's Powell: We don't want too restrictive a policy because of downside labor market risks. Fed's Powell: It is frustrating that non-housing services inflation hasn't come down.

FED'S POWELL: I HAVE NO INTENTION OF LEAVING THE FED BOARD UNTIL THE DOJ PROBE IS OVER. FED'S POWELL: IF NO FED CHAIR IS CONFIRMED BY THE END OF MY TERM, I WOULD SERVE AS CHAIR PRO TEM. - FINANCIALJUICE ... *POWELL: LABOR MARKET DOES HAVE A FEEL OF DOWNSIDE RISK *POWELL: A GOOD NUMBER ARE CONCERNED ABOUT LOW JOB CREATION Fed's Powell: A zero employment growth equilibrium is balanced, but it has the feel of a downside risk. *POWELL: THIS ENERGY SUPPLY SHOCK IS A ONE-TIME THING FED'S POWELL: NOT LEAVING BOARD UNTIL DOJ PROBE IS "WELL AND TRULY OVER"; NO DECISION YET ON STAYING IF PROBE CONCLUDES; WILL DO WHAT'S BEST FOR FED AND THE PEOPLE WE SERVE ...