Federal Reserve Chairman Powell attended an IMF expert group meeting and gave a speech. Powell stated that the Federal Reserve will continue to act cautiously. If appropriate, the Federal Reserve will not hesitate to further tighten monetary policy. Powell expects GDP growth to slow down in the coming quarters, but it is still "to be observed." While he is satisfied with the progress of inflation, he also pointed out that "there is still a long way to go." Powell also stated that future progress in inflation may have to come from a tightening of monetary policy, not just an improvement in supply-side factors.