Powell Warns of Inflation, Job Market Woes

Federal Reserve Chair Jerome Powell drops some real talk at Harvard University this week,

stressing the need to watch inflation closely as energy.

Prices spike from the war in Iran.

With gas prices creeping toward $4 a gallon nationwide,

he said these shocks usually fade fast, but the Fed's tools work on a longer.

Time on anyway.

Powell warned that back-to-back energy hits could shift how people, businesses, and households

expect prices to behave, making inflation stick around.

Longer.

He also called out the tough job market hitting new grads hard with hiring under 10,000 jobs

a month last year.

The weakest outside of recession since 2002.

Young folks are facing low job creation, even with unemployment steady at 4.4%.

Employers are holding tight to staff but slow to hire, and artificial intelligence is snatching

up entry-level gigs that used to go to fresh talent.

Powell stayed optimistic, though, saying tech-like large-language models boost productivity

in living standards over time.

He urged grads to master these tools and stay patient for the opportunities ahead.

All this plays out amid President Trump's push for rate cuts and Fed independence jabs

plus tariffs in the Iran mess pushing prices up.

Gas hit three.

Doll is 99 cents overnight per AAA.

Powell made it clear, guarding that independence keeps the economy steady.

That's the story for today.

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