Fed's Powell: Prospect of U.S. soft landing remains alive

U.S. Federal Reserve Chair Powell holds news conference after Fed announced quarter point interest rate hike in Washington
U.S. Federal Reserve Chair Jerome Powell addresses reporters after the Fed raised its target interest rate by a quarter of a percentage point, during a news conference at the Federal Reserve Building in Washington, U.S., February 1, 2023. REUTERS/Jonathan Ernst

Feb 1 (Reuters) - Federal Reserve Chair Jerome Powell said on Wednesday that his hopes for an economic soft landing, despite very aggressive interest rate rises, remain alive.

"I continue to think there’s a path to getting inflation back to 2% without a significant economic decline or significant increase in unemployment," Powell said in his press conference following the Fed's policy decision.

Reporting by Michael S. Derby; Editing by Leslie Adler

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