Those are the questions for the panel and Powelll's comments are directed at the third question here.
- Restoring price stability when inflation is high can require measures not popular in the short term
- Fed should 'not wander off to pursue perceived social benefits' not tightly linked to mandate
- We are not and will not be a 'climate policymaker'
- Fed has narrow responsibilities regarding climate-related financial risks
US equity futures ticked higher on the text release as there was some relief that he didn't deliver anything hawkish, however in about 15 minutes a Q&A will begin and Powell will likely be quizzed then on the current outlook. He's usually candid so there's still a good chance that he touched on monetary policy.
