Trending Now - Powell Navigates Economic Uncertainty Amid Oil Market Volatility
WHO:
Jerome Powell, Chair of the Federal Reserve
The Federal Reserve, U.S. central bank
WHAT:
Powell expressed uncertainty about the economy, using the word “uncertain” seven times during a press briefing.
Economic projections from the Federal Reserve showed inflation and economic growth slightly higher than previous projections, while unemployment and interest rates remained unchanged.
Powell noted a massive nurses strike and lack of immigration affected labor market data.
Powell stated that the Fed may need to raise interest rates at its next meeting due to uncertainty about inflation.
Powell mentioned that he is uncertain about the duration of his term as Fed Chair, which expires in 2028.
WHERE:
United States
WHEN:
The press briefing took place on Wednesday, March 18th, 2026.
Powell's term as Fed governor expires in 2028.
WHY:
Powell indicated that tariffs and oil price surges have clouded the Fed's ability to assess the economy.
The uncertainty in the economy is causing concerns among economists about potential pauses in hiring and consumer spending.
HOW:
Powell described the economic situation as opaque due to overlapping issues like tariffs and oil prices.
He acknowledged that it is too early to determine the effects of AI on productivity in the economy.
(UPDATED March 19, 2026 09:10 UTC)
In a press briefing on Wednesday, March 18, Federal Reserve Chair Jerome Powell expressed significant uncertainty about the economy, using the term "uncertain" seven times as he discussed the latest economic projections. He noted that while inflation and economic growth are slightly higher than previously expected, factors such as a massive nurses strike and ongoing immigration issues are impacting labor market data, leading to potential interest rate hikes at the next meeting. Powell also mentioned that tariffs and surging oil prices are complicating the Fed's assessment of the economy, and he admitted it's too early to gauge the effects of artificial intelligence on productivity.