Powell Says Fed Won't Raise Rates Preemptively

The transcript discusses the Federal Reserve's core mandate of price stability and maximum employment, emphasizing the need for inclusive economic prosperity. It highlights persistent economic disparities and the importance of focusing on employment as a broad and inclusive goal. The Fed aims to address these issues by not preemptively raising interest rates and waiting for actual evidence of inflation. The transcript also notes the stagnation of real incomes at the lower end and the decline in income mobility in the U.S., stressing the need for broader policies to achieve significant progress.

What is the significance of inclusive prosperity as mentioned in the text?

What challenges does the speaker identify regarding income mobility in the United States?