Walsh: The Fed's focus on both price stability and maximum employment is not contradictory

Odaily Planet Daily News Federal Reserve Chairman Walsh elaborated on his views on the economy. Walsh stated that the economic conditions are solid and financial markets appear to be functioning well, but the situation in the housing market is mixed, partly because inflation has been running above the Fed's target level. He said the Fed can alleviate this issue by maintaining price stability.

When discussing areas such as artificial intelligence, Walsh said: "We are not afraid of productivity-driven growth." Walsh noted: "The labor market has shown remarkable resilience." He stated that the Fed will focus on both price stability and maximum employment, and these two mandates are not contradictory. The better the Fed does in controlling inflation, the more willing employers will be to hire workers. "We still have work to do on inflation," he said. (Jin Shi)