Federal Reserve Chairman Powell: The Fed has the powers needed to defend its independence.

Federal Reserve Chairman Powell: Large U.S. banks are strong and well capitalized.

Federal Reserve Chairman Powell: Surveys show people think now is not a good time to buy durable goods.

Federal Reserve Chairman Powell: Moderate credit growth is a sign of policy tightening.

Fed Chairman Powell: Credit has been tight for some time. Credit growth has been moderate.

Federal Reserve Chairman Powell: Overall, policies are working and putting pressure on spending.

Federal Reserve Chairman Powell: People previously financed their homes with low-rate mortgages and are now reluctant to move.

Federal Reserve Chairman Powell: I think this tells you that policy may be restrictive.

Federal Reserve Chairman Powell: Wages are also falling.

Federal Reserve Chairman Powell: Demand for workers is cooling sharply.

ECB board member Knot: It is unlikely to return to a state of sustained low inflation and low interest rates.

Source: The German Council of Economic Advisors expects the German economy to grow by 0.9% in 2025.

Federal Reserve Chairman Powell: It looks like it will take longer to be confident about inflation.

Source: The German Council of Economic Advisors expects the German economy to grow by 0.2% in 2024.

Federal Reserve Chairman Powell: U.S. fiscal policy is on an unsustainable path.

Federal Reserve Chairman Powell: I fully understand people’s dissatisfaction with high prices.

Federal Reserve Chairman Powell: We have made substantial progress on inflation.

Federal Reserve Chairman Powell: Credibility is vital to a central bank, and we achieve this by fulfilling our mission, not by getting involved in politically controversial issues.

ECB board member Knot: No commitment to interest rates after June, it will depend on the data.