He Federal Reserve Chairman Jerome Powelloffers a press conference to explain why they have decided to keep the official interest rate unchanged in the range of 5.25-5.5%.
Featured Statements
“We remain squarely focused on the dual mandate.”
“The policy stance is restrictive.”
“The full effects of the hardening have not yet been felt“.
“Given how far we have come and amid the uncertainty, we are moving cautiously.”
“We will make decisions on the completeness of the data and the balance of risks“.
“The economy has expanded far beyond expectations.”
“The labor market remains tense.”
“Labor supply and demand conditions continue to become better balanced.”
“Employment is increasing at a strong pace, but less than at the beginning of the year.”
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.
