ECB board member Knot: Europe could also be affected by US tightening policies. The net effect of policy divergence is not yet clear.

ECB board member Knot: Policy differences could weaken the euro and push up prices.

Federal Reserve Chairman Powell: I believe we will eventually achieve our goals.

Federal Reserve Chairman Powell: Service sector inflation does not need to fall to 2%.

Federal Reserve Chairman Powell: Inflation in non-housing services may be the longest-lasting.

Federal Reserve Chairman Powell: The lag between the decline in market interest rates and their manifestation is longer than we expected.

Federal Reserve Chairman Powell: The current rent increase has been going on for some time, but it has not been reflected in the renewal contract.

Federal Reserve Chairman Powell: Housing inflation has been a bit confusing.

Federal Reserve Chairman Powell: In many ways, the policy rate is restrictive.

Federal Reserve Chairman Powell: But we will get inflation back to 2%.

Federal Reserve Chairman Powell: Restrictive policies may take longer than expected to work to reduce inflation.

Robinhood (HOOD.O) shares rose 10%, their biggest one-day gain since March 14.

Federal Reserve Chairman Powell: PPI data is actually quite mixed.

ECB board member Knot: Inflation in Europe may not be as persistent as in the United States.

ECB board member Knot: Wage growth is slow and growth is gradually slowing down.

ECB board member Knot: Services sector inflation has improved.

ECB board member Knot: More and more confident that inflation will move towards target.

Federal Reserve Chairman Powell: The inflation rate is expected to fall month-on-month.