Jerome Powell Speech: There May Still Be a Tailwind to Disinflation Coming from Assets

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 is generally normalizing”

“I think that the reduction in rental costs is coming and will be felt”

“Supply chains are not yet completely back to where they were”

There may still be a tailwind to disinflation coming from goods

“I wouldn't say we've achieved a soft landing yet”

“However, I am encouraged by the progress we have made”

“We are not declaring victory”

About Jerome Powell (via Federalreserve.gov)

“Jerome H. Powell first assumed the role of Chairman 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 term. four 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 his inauguration on May 25, 2022. May 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

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