Fed Chair Highlights Importance of Flexibility in Economic Forecasts

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We're hearing from the Federal Reserve Chair this morning. Did he give any indication on the path for borrowing costs? Do? That's right. So the Federal Reserve Chair, Jerome Powell delivered remarks this morning about how to forecast the economy but didn't address the current state of borrowing costs. Powell said that the central bank which he governs must be flexible and agile and crafting economic projections, accounting for unpredictable shocks like a pandemic or a global financial crisis. Economic forecasting has been a challenge for the fed since the pandemic, the central bank you may recall called inflation transitory for most of 2021 only for it to reach its highest level in more than four decades in 2022.