The comments were made during a European Central Bank forum that was moderated by Bloomberg Editor at Large Francine Lacqua.
“I think we now understand better how little we understand about inflation,” Powell said.
“That sounds very reassuring,” Lacqua responded.
“No, honestly, this was unpredictable,” Powell replied.
SUPREME COURT DEALS BIDEN CLIMATE AGENDA SERIOUS BLOW WITH EPA DECISION
U.S. President Joe Biden announces the nomination of Federal Reserve Chair Jerome Powell for a second four-year term, in the Eisenhower Executive Office Building’s South Court Auditorium at the White House in Washington, U.S., November 22, 2021. REUTERS/Kevin Lamarque