Federal Reserve Board Governor Adriana Kugler speaks on "Navigating Inflation Waves While Riding on the Phillips Curve" before the 2025 Whittington Lecture event hosted by Georgetown University.
- Downward risks to employment have diminished, upside risks to inflation remain, path to 2% inflation 'bumpy'.
- Potential net effect of new economic policies highly uncertain, will depend on specifics.
- US economy remains on a firm footing.
- January 12-month PCE inflation estimated at 2.4%, core PCE at 2.6%; 'still some way to go' to reach 2% target.
- Fed's policy rate is moderately restrictive.
- Labor market is healthy and stable.
Fed's Kugler
