POWELL SPEECH: NO REASON TO THINK ECONOMY FACES SIGNIFICANT NEAR-TERM RISK OF RECESSION

Federal Reserve Chairman Jerome Powell testifies before the House Financial Services Committee.

Key takeaways

"Pandemic may have changed in a sustained way how we target inflation."

"We are seeing continued solid growth, which should continue."

"No reason to think the economy is in or faces significant near-term risk of recession."

"I don't think possibility of recession is elevated right now."