Jerome Powell actually said...

I think my baseline expectation is still... that inflation will move back down over the course of next year.

Powell shares his expectation for inflation to decrease next year.

11/29/2021

More Jerome Powell Quotes

As long as the economy is in solid shape, we think the prudent thing to do is to wait and see what those effects might be.

We're trying to deliver macro stability, financial stability, economic stability for the benefit of all the people.

I want to hand over to my successor an economy in good shape.

So we didn't overreact — in fact, we didn't react at all. We're simply taking some time.