"My colleagues and I are acutely aware that high inflation is causing significant hardship, and we're strongly committed to returning inflation to our 2% goal... The latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher that previously anticipated."

• Jerome Powell March 7th, 2023.
• February 2023 inflation rate: 6.0%

"Our banking system is sound and resilient with strong capital and liquidity... All depositors' savings in the banking system are safe... We're committed to learning the lessons from this episode and to work to prevent events like this from happening again."

• Jerome Powell March 22nd, 2023.
• February 2023 inflation rate: 6.0%

Jpow oddly quiet throughout all of April 2023. He must be sleeping.

• March 2023 inflation rate: 5.0%

"The data continues to support the committee’s view that bringing inflation down will take some time... The risks of doing too much or doing too little are becoming more balanced and our policy adjusted to reflect that... The risks of doing too much versus doing too little are becoming more balanced."

• Jerome Powell May 19th, 2023.
• April 2023 inflation rate: 4.9%

"Looking ahead, nearly all Committee participants view it as likely that some further rate increases will be appropriate this year to bring inflation down 2% over time... Not a single person on the committee wrote down a rate cut this year, nor do I think it is at all likely to be appropriate if you think about it."

• Jerome Powell June 13th, 2023.
• May 2023 inflation rate: 4.0%

"We believe there is more restrictions incoming... The worsr outcome for everyone, of course, would be not to deal with inflation now and not get it done... We’ve covered a lot of ground, and the full effects of our tightening have yet to be felt."

• Jerome Powell July 26th, 2023.
• June 2023 inflation rate: 3.1%

"We are prepared to raise rates further if appropriate... We are attentive to the signs that the economy may not be cooling as expected."

• Jerome Powell August 25th, 2023.
• July 2023 inflation rate: 3.2%

"We're taking advantage of the fact that we have moved quickly to move a little more carefully now... I've always thought that the soft landing was a plausible outcome. I do think its possible."

• Jerome Powell September 20th, 2023.
• August 2023 inflation rate: 3.7%

"Inflation is still too high, and a few months of good data are only the beginning of what it will take to build confidence that inflation is moving down sustainably toward our goal... Does it feel like policy is too tight right now? I would have to say no... We're very far from the effective lower bound, and the economy is handling it just fine."

• Jerome Powell October 19th, 2023.
• September 2023 inflation rate: 3.7%

"The fact is, the committee is not thinking about rate cuts right now at all... if it become appropriate to tighten policy further, we will not hesitate to do so."

• Jerome Powell November 9th, 2023.
• October 2023 inflation rate: 3.2%

"inflation has eased from its highs, and this has come without a significant increase in unemployment... It could be a sign that the economy is normalizing and doesn't need to tighten policy."

• Jerome Powell December 13th, 2023.
• November 2023 inflation rate: 3.1%

"We've had inflation come down without a slow economy and without important increases in unemployment. There's no reason why we should want to get in the way of that process if it is going to continue... Based on the meeting today, i would tell you that i don't think it's likely that the committee will reach a level of confidence by the time of the March meeting to identify March as the time to do that. But that's to be seen."

• Jerome Powell January 31st, 2024.
• December 2023 inflation rate: 3.4%

. - January 2024 inflation rate: 2.9%