Skip to content

Five Things You Need to Know to Start Your Day

Video player cover image
Powell: Achieving Soft Landing 'Very Challenging'

Jay Powell talks soft landing, commodities show recession fear and natural gas’s Lehman moment.

Federal Reserve Chair Jerome Powell's testimony to Congress yesterday did little to ease fears that the US economy is at risk of falling into recession. He said engineering a soft landing, where inflation is taken back under control without causing growth to fall, is "very challenging." Chicago Fed President Charles Evans said after Powell's testimony that another 75 basis point hike is a "very reasonable place to have a discussion" in the July FOMC meeting. Stocks finished yesterday's session lower while Treasury yields dropped. Powell is back in Congress from 10:00 a.m. Eastern Time today.