Federal Reserve Chair Jerome Powell on Thursday said the recent rise in longer-term bond yields is tightening financial conditions as the central bank wants and could “at the margin” mean there is less need for the Fed to increase rates further.

“It doesn’t seem to be principally about expectations of us doing more,” Powell told the Economic Club of New York. It looks to be mainly an effect of higher so-called term premiums, he said, and does not reflect expectations for higher inflation. He added he is “not blessing any particular level” of longer-term rates.

READ MORE: Fed Chair Powell: bond yield rise could mean Fed needs to do less

Fed Chair Jerome Powell at the Economic Club of New York responds to questions about the economic impacts of monetary policy, debt terms limiting the effect of rate hikes, and more.

READ MORE: Fed Chair Jerome Powell: The resilience of the economy is a story of stronger demand

CNBC’s Steve Liesman joins ‘Halftime Report’ to discuss Fed Chair Jerome Powell’s comments from the Economic Club of New York, which focused on the state of inflation, rate hikes, and labor market conditions.

READ MORE: Fed Chair Powell: Continued Economic Strength Could Warrant Further Tightening

Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high and that bringing it down to the Fed's target level will likely require a slower-growing economy and job market.

Powell noted that inflation has cooled significantly from a year ago. But he cautioned that the economy is growing faster than the Fed had expected and could continue to keep inflation elevated. As a result, the Fed chair said, it's not yet clear whether inflation is on a steady path back to the Fed's 2% target.

“We certainly have a very resilient economy on our hands,” Powell said in a discussion at the Economic Club of New York. “Many forecasts called for the U.S. economy to be in recession this year. Not only has that not happened; growth is now running for this year above its longer-run trend. So that’s been a surprise.”

READ MORE: Fed Chair Powell: Slower economic growth may be needed to conquer stubbornly high inflation

ECNY: Signature Luncheon

Join us for a Signature Luncheon with Jerome Powell. As the Chair of the Federal Reserve Bank, Chair Powell will address the Club on the U.S. economic outlook and monetary policy.

A key update comes Thursday at noon Eastern, with Jay Powell, the Fed chair, set to speak at the Economic Club of New York.

READ MORE: Markets Look to Powell Amid Rising Tensions in the Middle East

“Given the uncertainties and risks, and how far we have come, the committee is proceeding carefully,” Powell said in prepared remarks Thursday to the Economic Club of New York.

READ MORE: Powell Says Fed ‘Proceeding Carefully,’ Leaves Door Open to Rate Hike

“Oil reserves defined the policy for the last five decades and the geopolitics of the world,” Intel’s CEO Pat Gelsinger said during a Tuesday session at the Economic Club of New York. Today, he says, technology supply chains are the key.

“Manufacturing and R&D are more important for the next five decades. So let’s build them where we want them.”

READ MORE: Intel CEO Has a Plan to Win the Chip War. It Requires Immigration Reform

During a session at the Economic Club of New York on Tuesday, Intel CEO Pat Gelsinger offered an optimistic vision of an AI-driven future.

“I believe [AI] will be the driver of economic growth, dislocation and investment for at least a decade, “ he said. “There is going to be investment cycles, new companies born, companies that embrace AI and ride its growth.”

READ MORE: Intel CEO Says U.S. Is Winning AI Race Over China, and a Tech Boom Is Coming

ECNY: Signature Breakfast

Join us for a Signature Breakfast with Patrick Gelsinger, Chief Executive Officer of Intel. The conversation will address technology, global supply chain, and the semiconductor manufacturing industry.

ECNY: Signature Breakfast

Author Series

ECNY is hosting Co-Founder and CEO of Inflection AI, Mustafa Suleyman for a breakfast event. He will discuss his new book The Coming Wave: Technology, Power, and the 21st Century's Greatest Dilemma.

ECNY: Signature Luncheon

The President and CEO of Federal Reserve Bank of San Francisco, Mary Daly speaks at The Economic Club of New York luncheon event about the current economic landscape, monetary policy, and the role of the Federal Reserve Bank in fostering economic growth.

General Milley tells the Economic Club of New York that neither Russia nor Ukraine, in his opinion, can win the war. Diplomats, he believes, need to start looking for ways to begin negotiations.

“When there’s an opportunity to negotiate, when peace can be achieved, seize it,” he says.

The remarks cause a furor: Ukrainians worry that the Biden administration is preparing to abandon them, and White House officials scramble to reassure them that U.S. support remains solid.

READ MORE: Wars, Pandemic, Insurrection, U.F.O.s: Gen. Mark Milley’s Term Had It All

ECNY: Video Webinar

Author Series

Video webinar with New York Times bestselling author Richard Haass, author of The Bill of Obligations: The Ten Habits of Good Citizens

So, this week, prime minister Fumio Kishida will make his strongest ever push for a bet on Asia’s biggest advanced economy — as BlackRock founder Larry Fink, and other heads of global funds, gather in Tokyo for a series of events to attract investment.

“I would urge you to evaluate what we are doing in my country, look at the underlying strength of our economy and our plans for the future and then invest in Japan,” Kishida said in a recent speech at the Economic Club of New York.

READ MORE: Japan's Prime Minister Kishida Says: 'Reassess the Economy'

Now, prime minister Fumio Kishida is aiming to address what government officials call the “final piece” of the puzzle that is trying to unlock $14tn of household financial assets: a shake-up of the country’s asset-management industry. “We will push hard to encourage sophisticated asset management and to solicit new entrants,” Kishida said in a speech at the Economic Club of New York, in late September.

READ MORE: Japan Government Sweeteners Aim to Attract Investors

"He didn't need another engineer," Isaacson said at an event hosted by the Economic Club of New York. "He needed somebody who understood human emotions and advertising desires, and so Linda's the right person, but even yesterday at the Code Conference, it was not a pretty sight. I guess I should be neutral, I shouldn't care, but I'm actually praying for her to succeed because I like her and it's exactly what Twitter needs."

READ MORE: Elon Musk's biographer says X CEO's rocky interview was 'not a pretty sight' but she's 'the right person' for the job

ECNY: Signature Breakfast

Author Series

From the author of Steve Jobs and other bestselling biographies, this is the astonishingly intimate story of the most fascinating and controversial innovator of our era—a rule-breaking visionary who helped to lead the world into the era of electric vehicles, private space exploration, and artificial intelligence.

For two years, Isaacson shadowed Musk, attended his meetings, walked his factories with him, and spent hours interviewing him, his family, friends, coworkers, and adversaries. The result is the revealing inside story, filled with amazing tales of triumphs and turmoil, that addresses the question: are the demons that drive Musk also what it takes to drive innovation and progress?

Speaking at the Economic Club of New York last week, Bank of America's (NYSE: BAC) Brian Moynihan said bluntly, "We won't have a recession."

READ MORE: Bank of America's CEO Says There Won't Be a Recession. Time To Buy the Stock?

Brian Moynihan, Chairman and CEO of Bank of America, spoke during an Economic Club of New York event on Wednesday. "Consumers are worried about what's happening next," he said.

READ MORE: Consumers are expected to keep the U.S. out of recession, Moynihan says