Fed Chair Powell (Q&A) says economy has surprised us with its strength; consumer spending is uneven across incomes, but good; ai is also benefiting the economy; growth is on a solid footing

• There has been a disconnect between downbeat surveys and actual spending data

Powell's comments suggest a hawkish tilt, indicating that the economy is performing better than expected, which could impact monetary policy considerations. The mention of a disconnect between surveys and actual spending points to potential resilience in consumer behavior, implying that the Fed may maintain or adjust its rate path further. This could have spillover effects on the USD and fixed income markets as investors reassess rate expectations.