The Federal Reserve Chair Jerome Powell will speak at the “Inflation: Progress and the Path Ahead” conference at Jackson Hole on Friday.

He will emphasize the Fed’s commitment to driving inflation down to its 2% goal, despite tightening policy in the past year.

Powell will evaluate progress and highlight the outlook and uncertainties faced as they pursue their dual mandate goals.

High inflation began with robust demand and pandemic-constrained supply.

Headline PCE inflation peaked at 7% in June 2022 and fell to 3.3 percent in July, following global trends.

Core PCE inflation peaked at 5.4 percent in February 2022 and fell to 4.3 percent in July.

Powell will focus on the three primary components of core PCE inflation: products, housing, and nonhousing services.