Federal Reserve Chair Jerome Powell said on Wednesday the central bank is effectively "looking through" a rise in goods prices by keeping interest rates unchanged. "You could argue we are a bit looking through goods inflation by not raising rates," he said, noting the Federal Reserve has "not reacted to new inflation." Powell added that recent price pressures "could be short-lived, or more persistent," underscoring uncertainty over the inflation outlook and suggesting policymakers are prepared to wait for clearer evidence before deciding whether tighter monetary policy is warranted.