Fed Chair Powell’s Remarks Friday at Jackson Hole (Full Text)

The following is a reformatted version of prepared remarks titled “Monetary Policy and the Fed’s Framework Review,” which Federal Reserve Chair Jerome Powell is delivering Friday in Jackson Hole, Wyoming:

Over the course of this year, the U.S. economy has shown resilience in a context of sweeping changes in economic policy. In terms of the Fed’s dual-mandate goals, the labor market remains near maximum employment, and inflation, though still somewhat elevated, has come down a great deal from its post-pandemic highs. At the same time, the balance of risks appears to be shifting.