2023-06-16 13:02:06
#news #forex
On June 14, the Fed paused to raise its key rate and left it unchanged at 5.25%
Jerome Powell's remarks during the FOMC press conference:
- We are strictly committed to 2% inflation.
- Almost all officials think some rate hikes this year are appropriate.
- The full impact of the hikes has yet to be felt.
- Lower inflation probably requires some easing of labor conditions.
- We don't know the full implications of bank shocks
- We are close to peaking on rates.
- At the next meeting, we will consider 3 months' worth of macro data
- We are moving to a more moderate pace.
- The Fed's inflation projections for the last 2 years have been wrong.
- When we see stable and soft inflation, we will know that the restrictive policy is working.
- No Fed official sees the possibility of a rate cut in 2023
- It could take 2 years for rates to fall.
Speech: link
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