Fed Chair Powell: I don't see an elevated likelihood of a recession in the next year

Fed Chair Jerome Powell remarked in a speech on Monday that he doesn't see an elevated likelihood of a recession in the next year, reported Reuters. 

Additional Remarks:

"It's hard to say what the economy will look like in wake of recent events, but no one is sitting around waiting for the old regime to come back."

"Climate change policy could affect relative price changes."

"It's a strong economy."

"The economy can handle less-accommodative monetary policy."

"This is a labor market that is out of balance."

"It is a great labor market for workers, but we need it to be sustainably tight."

"The strong labor market could be more sustainable if demand was brought back into line with supply."

"You could make a case that labor shortage will trigger more investment... I do think that will happen in the service industry."

"That could boost productivity and make high wage increases more sustainable."

"Financial conditions have tightened since late last year."

"We want to get back to a place that's away from highly accommodative conditions."

"In the medium term, I don't see a conflict between employment and inflation goals."

"The best thing we can do to keep a strong labor market is to stabilize prices."

"I tend to look at shorter part of the yield curve, not 2s to 10s."