Fed’s Powell Says Hard Landing ‘Not a Likely Scenario’

The U.S. economy is unlikely to endure a hard landing as inflation softens and growth remains solid, Federal Reserve Chair Jerome Powell said in a question-and-answer session at the Economic Club of Washington on July 15. “I wouldn’t rule it out, but I would say that the kind of hard landing scenario is not the most likely or a likely scenario,” Mr. Powell said. “We’d be happy to have more upside surprises for the economy,” he said. A hard landing is an economic term to describe an economic downturn following a period of expansion. During his conversation with David Rubenstein, co-chair of investment fund The Carlyle Group, Mr. Powell stated that he believed there was a path to lower inflation without inflicting pain on the labor market....