In a speech alongside US President Joe Biden and Fed Vice Chairman nominee Lael Brainard on Monday, Fed Chair Jerome Powell said that strong policy actions and vaccine rollouts had set the stage for a strong economic recovery. We know that high inflation takes a toll on families, Biden continued, adding that the Fed will use its tools to support jobs but also to make sure high inflation doesn't become entrenched. 

Market Reaction

There hasn't been any market reaction to Powell's remarks, which added nothing new.