Jerome Powell says Congress and the private sector, not the Fed, are responsible for 'the things that will really matter for future generations' | Fortune

"Calm down."

"I think we get a disproportionate amount of attention compared to the things that really matter for the country," Powell said. "The things that Congress can do and the private sector can do, those are the things that will really matter for future generations, not interest-rate policy."

"We have a really important job: maximum employment, price stability," he said. "We regulate and supervise the banks. We operate parts of the payment system. But those things are really about cyclical demand management and financial stability."

The Federal Reserve receives disproportionate attention compared with policy areas that shape long-term prosperity. Monetary policy tools focus on maximum employment, price stability, bank regulation, and payment system operations, and are primarily about cyclical demand management and financial stability. Markets and journalists frequently parse central bank language for signals about rate moves, amplifying Fed visibility and market volatility. Long-term national trajectory depends more on investment in people through education, workforce training, and productivity growth. The U.S. educational sector needs investment to keep pace with rapid technological advancement to improve outcomes for future generations.

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