Powell did not discuss policy prospects, and it is expected that the April PCE will decrease to 2.2%.

Federal Reserve Chairman Powell did not discuss current monetary policy or economic outlook in his speech on Thursday, although he did indicate that he expects personal consumption expenditure price inflation to decrease to 2.2% in April - a moderate figure but may not yet reflect the upcoming tariff-driven price increases. Nonetheless, this still reflects a "historically unusual outcome" of disinflation under the Fed's current strategy without causing significant harm to the economy, indeed indicating a "soft landing."