Powell: Economy is on 'firm footing'

• U.S. economy expanded at a solid pace last year and is on 'firm footing' entering 2026.
• Fed remains focused on dual mandate goals of maximum employment and stable prices.
• Unemployment rate shows signs of stabilization, but inflation remains 'somewhat elevated'.

Federal Reserve Chair Jerome Powell stated that the U.S. economy expanded at a solid pace last year and is entering 2026 on a 'firm footing.' He reiterated the Fed's focus on maximum employment and stable prices, noting that while job gains have remained low, the unemployment rate shows signs of stabilization, and inflation remains somewhat elevated.