"If inflation started to tick back down or we saw some marked weakening in the labor market, then that might cause us to cut back on interest rates. Or, if we get convinced that inflation is entrenched at 3 percent and we need to go higher, we will do that."
In remarks following today's FOMC meeting, Powell did not comment on whether rate cuts are likely this year, something he has said after prior meetings.
"The Fed is on hold. Investors feel a little reprieve that [inflation data] didn't come in higher, which could make people start thinking about a rate-hike scenario."
The second-straight increase in core capital goods orders points to stabilization in equipment investment, which has been a drag on GDP in recent quarters.
"First, in my mind, the plain text of the FTC Act clearly gives the agency the authority to promulgate rules addressing unfair methods of competition," FTC Chair Lina Khan said. Not everyone agrees.