on the SEP. Can you help us make sense of why there is still a bias to cut from most officials this year despite the upward revision to headline in core inflation and the essentially unchanged forecast for growth in unemployment. Just curious kind of what what's the genesis behind the need what's the need for the cut.>> Yeah. So, you know, there are 19 people and so 19 reasons, 19 individual submissions, you know, but but and if you notice, um the median didn't change, but there was actually some movement t ...

You know, when we use the term stagflation, I always have to point out that that that was a 1970s term at a time when unemployment was in double figures and inflation was really high and the misery index was super high. Add them together, you get the misery index. And that's not the case right now.We actually have unemployment really close to longer run normal and we have inflation that's, you know, one percentage point above that. So calling that stagflation, it's not you, I would reserve the term stagflat ...

So if my successor is not confirmed by the end of my term as chair, I would serve as chair prom until he is confirmed. Um that is what the law calls for. Uh that's what we've done on several occasions including involving me and it's what we're going to do in this situation.Uh, and while I'm at it, um, on the question whether I will leave while the investigation is ongoing, I have no intention of leaving the board until the investigation is well and truly over with transparency and finality. And I would refe ...

Meanwhile, the economy has the growth has been solid. Um, and inflation that the overshoot is mainly from from the goods and tariffs and you know, the labor market uh is um the unemployment rate of course is little changed since September. Um, you have a very very low break even rate apparently for new jobs with little growth in either demand or supply.But the US economy is is doing you know pretty well. It's just we don't know what the effects of this will be and really no one. ...

MAYBE JUST NOT QUITE GOOD ENOUGH HERE AFTER THIS TORRID RUN. >> 60% RUN YEAR TO DATE. EVEN SO, ABSOLUTELY.A LOT OF IT PRICED IN. >> ALL RIGHT. MEANTIME, LET'S DIG DEEPER INTO CHAIR POWELL'S FUTURE AT THE FED AND THE PATH OF INTEREST RATES THIS YEAR.JOINING US NOW IS ALAN BLINDER. HE'S A FORMER VICE CHAIRMAN AT THE FEDERAL RESERVE, PROFESSOR OF ECONOMICS AND PUBLIC AFFAIRS AT PRINCETON. PROFESSOR, THANK YOU SO MUCH FOR JOINING US.WE DO APPRECIATE YOUR TIME. WHAT DID YOU MAKE OF THE TONE OF THE FED TODAY. DID ...

Is the higher inflation pencileled in here for 2026 solely the result of the oil shock or or or something else. >> So that's going to be part of it. Uh but you know that wouldn't be most of core, right.So the oil shock for sure shows up here. Some of that will be in core as well. Yes.But no, there there's also just just the the the feeling that we haven't seen um you know the progress that we had hoped for on uh on core goods uh and on on tariffs and on the rest of it. You know, we've we've so for whatever ...

Today, the FOMC decided to leave our policy rate unchanged. We see the current stance of monetary policy as appropriate to promote progress toward our maximum employment and 2% inflation goals. The implications of developments in the Middle East for the US economy are uncertain.We will remain attentive to risks to both sides of our dual mandate. ...

Inflation has eased significantly from its highs in mid 2022, but remains somewhat elevated relative to our 2% longerr run goal. Estimates based on the consumer price index and other data indicate that total PCE prices rose 2.8% over the 12 months ending in February and that excluding the volatile food and energy categories, core PCE prices rose 3.0%. These elevated readings largely reflect inflation in the goods sector, which has been boosted by the effects of tariffs.Near-term measures of inflation expect ...

QUESTION WHY WE DIDN'T SEE MUCH OF THAT LAST YEAR. >> EDWARD. >> THANK YOU.EDWARD LAWRENCE WITH FOX BUSINESS. SO IN DECEMBER WE SAW EMPLOYMENT NUMBERS REVISED DOWN TO -17,000. JANUARY REVISED DOWN FEBRUARY POSTED A LOSS OF 92,000.IS THAT IS THE EMPLOYMENT SIDE A FAR GREATER RISK THAN THE INFLATION SIDE BECAUSE WE ARE SEEING INFLATION. CPI IS CLOSE TO 2%. PCE HAS TICKED DOWN OVERALL.>> YOU KNOW IT'S REALLY I WOULDN'T SAY THAT. I WOULDN'T SAY THAT THAT'S CLEAR AT ALL. THAT ONE IS MORE AT RISK THAN THE OTHER.S ...

Brian Lynch had been leading hardware for Apple's smart home display, which has been delayed multiple times because the Siri redesign still isn't ready. Now, before that, he ran engineering for Apple's self-driving car project, which the company scrapped in 2024. So, this is deep institutional knowledge tied to two high-profile efforts that never shipped.Now, walking out the door to Aura, the smart ring company that competes pretty directly in health wearables and has been systematically picking off Apple's ...