Fed's Powell tells students not to despair despite tough job market

Federal Reserve Chair Jerome Powell told students not to lose hope about employment prospects despite current labor market challenges. In a Monday speech, Powell also addressed the economic fallout from the Iran war, noting that longer-term inflation expectations remain stable. His remarks suggest the Fed views near-term job market pressures as manageable within a broader context of controlled inflation. Powell's public messaging to young people signals an effort to temper widespread anxiety about economic conditions while maintaining confidence in the central bank's inflation-fighting credibility. The comments come as the Fed navigates competing pressures: supporting employment while keeping inflation in check.