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
“Nominal wage growth has shown some signs of moderation.”
“Demand for labor continues to exceed supply.”
“The gap between jobs and workers has narrowed, but employment remains higher than supply.”
“Inflation remains well above target“.
“Inflation has moderated since the middle of last year.”
“Still We have a long way to go to lower inflation to 2%“.
“Our restrictive stance is putting downward pressure on economic activity and inflation.”
“We are committed to achieving a sufficiently restrictive stance.”
“Pay attention to recent data that shows the resilience of the economy and demand for work.”
“These data could put at risk new advances in inflation, they could justify new increases in interest rates.”
“Financial conditions have tightened significantly.”
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
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.
