Federal Reserve Chair Jerome Powell stated that the economy remains strong overall and has made significant progress toward the Fed’s 2% inflation target over the past two years.

Powell receives inflation data a day in advance, meaning he has already seen tomorrow’s report. His optimistic tone suggests encouraging news ahead.

In January, fewer small businesses reported raising prices, and even fewer plan to do so in the future.

Meanwhile, wage increases slowed to a four-month low, signaling easing inflationary pressure. With less extra cash in circulation, consumer spending may cool, giving businesses more reason to stabilize prices.

Stay patient—the path forward is becoming clearer, and the light at the end of the “Cannon” is coming into focus.

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