He Federal Reserve Chairman Jerome Powellexplains the decision to keep the official interest rate, the federal funds rate, unchanged in the range of 5.25%-5.5% and answers questions at the press conference after the meeting.
Featured Statements
“The economy has progressed well, inflation has softened”
“The path forward is uncertain, we are fully committed to returning inflation to 2%”
“In the last two years monetary policy has tightened significantly”
“The risks to achieving the objectives are being balanced“
“Activity in the housing sector is moderate.”
“The labor market remains tense”
“Job gains remain strong, demand for labor continues to exceed supply.”
“Inflation has decreased significantly, although it is still above the target”
“Lower inflation readings welcome, but we need to see continued evidence to have confidence in returning to target“
About Jerome Powell (via Federalreserve.gov)
“Jerome H. Powell first assumed the chairmanship of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. He was re-elected to the position and sworn in for a second four-year term. years on May 23, 2022. Powell is also Chairman of the Federal Open Market Committee, the System's main monetary policy body. Mr. Powell has been a member of the Board of Governors since taking office on May 25, 2022. 2012, to fill an unexpired term. He was re-elected as a member of the Council and was sworn in on June 16, 2014, for a term that ends on January 31, 2028.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
