Federal Reserve Chairperson Jerome Powell says the Fed remains focused on achieving its dual-mandate goals of maximum employment and stable prices for the benefit of the American people. The economy is generally strong and has made significant progress toward their goals over the past two years. Labor market conditions have cooled from their previous overheating and are holding steady. Also, while it remains somewhat high, inflation has moved closer to the Fed's long-term goal of 2 percent.
Taking into account the Federal Reserve's realized and expected interest rate cuts, strong corporate earnings throughout the year, and record-high stock market levels, the case for bearish stocks looks increasingly inadequate... > >
European Central Bank Governing Council Nagel: Good progress towards achieving the inflation target. Inflation is expected to reach 2% by the end of next year.
Mr. Nagel, the ECB's governing council member, said he was well on his way to meeting his inflation target, which is expected to reach 2 per cent by the end of next year.
The Federal Reserve's Williams said the central bank remains committed to achieving its 2% inflation target; price stability is key to financial stability.