Powell: No intention of leaving Fed Board until DOJ probe is over

FED'S POWELL: PAST RATE CUTS SHOULD HELP STABILIZE THE LABOR MARKET. ... POWELL: INFLATION OVERSHOOT IS MAINLY FROM GOODS AND TARIFFS ... Fed's Powell: A long period of higher gas prices would weigh on consumption, but I don't know if that will happen. FED'S POWELL: IF EVER GOING TO SKIP AN SEP, THIS WOULD BE A GOOD ONE ... *POWELL: OIL SHOCK WILL PUT SOME DOWNWARD PRESSURE ON EMPLOYMENT

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: UPWARD REVISION IN GROWTH PROJECTIONS IS PRODUCTIVITY. ... *POWELL: HAVEN'T STARTED TO SEE PRODUCTIVITY EFFECTS FROM AI *POWELL: RECENT PRODUCTIVITY TREND NOT BECAUSE OF GENERATIVE AI *POWELL: AI SHOULD CERTAINLY CONTRIBUTE TO PRODUCTIVITY TREND FED'S POWELL: IT WILL TAKE SOME YEARS OF POSITIVE REAL EARNINGS GAINS FOR PEOPLE TO FEEL GOOD AGAIN. ... *POWELL: OIL PRICES CAN LEAK INTO CORE INFLATION