Fed's Powell cautions about higher long-term rates as 'supply shocks' provide policy challenges
1. Powell signals higher long-term interest rates amid economic shifts. 2. Inflation expectations align with the Fed's 2% target; zero-rate era over. 3. Potential for frequent supply shocks complicates Fed's balancing act. 4. Current benchmark rate ranges between 4.25%-4.5%, indicating tight policy. 5. Fed reviewing communication strategies for better clarity on economic outlook.