Powell says no guarantee of soft landing for U.S. economy

Fed Chairman Jerome Powell on Wednesday said there was no guarantee that the central bank can engineer a soft landing for the U.S. economy.

“We think that there are pathways for us to achieve the path back to 2% inflation while still retaining a strong labor market. We believe we can do that,” Powell said, during a panel discussion with other top heads of central banks at a European Central Bank policy conference in Sintra, Portugal.

Powell quickly added that “there’s no guarantee that we can do that.”

“It’s obviously...