Chairman of the Fed, Powell, made public comments today at an event. Not too much new, but he acknowledged that the hot employment report supports the Fed's prior inclination to continue raising interest rates this year.

https://www.nytimes.com/2023/02/07/business/econom...

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Mr. Powell...called a recent slowdown in price increases 'the very early stages of disinflation.' He added that the process of getting back to normal is 'not going to be, we don't think, smooth' and is 'probably going to bumpy.'...

Mr. Powell said that the Fed did not expect the jobs report to be so strong, and that the ongoing robustness reinforced why the process of lowering inflation will 'takes a significant period of time.'

While he said that it is good that the disinflation so far has not come at the expense of the labor market, he also [said]...

'We anticipate that ongoing rate increases will be appropriate,' Mr. Powell said. He said that in the wake of the jobs report, financial conditions are 'more well aligned' with that view than they had been previously.
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