Powell's latest key turning point speech: the Fed's obligation is to keep long-term inflation expectations stable

Nick Timiraos, the ‘Fed's sounding board’, concludes that Fed Chair Powell is at a key turning point. Powell's statements at key turning points over the years have been as follows: June 2019: Take appropriate action to maintain economic expansion; August 2024: Further weakness in the labour market is undesirable; April 2025: Our obligation is to keep long-term inflation expectations stable.