Powell: Strength of the economy has 'surprised us'

• Powell highlighted that the U.S. economy's strength has repeatedly surprised the Federal Open Market Committee.
• Key drivers of this strength include resilient consumer spending, despite negative consumer surveys, and the buildout of AI data centers.
• The Fed Chair concluded that the economy's overall growth is on a solid footing.

Fed Chair Jerome Powell expressed surprise at the continued strength of the U.S. economy, noting it has 'once again' exceeded expectations. He attributed this resilience to robust consumer spending and significant investment in AI data centers, indicating that overall economic growth is on a solid footing.