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’re going to take the big picture into account when evaluating rate hikes.”
“We look at the labor market, economic growth and financial conditions.”
“If we come to the conclusion that we need to tighten, we will.”
“We are not thinking or talking about rate cuts“.
“We are focused on whether we are restrictive enough.”
“The next question will be how long we should maintain a restrictive policy.”
“The question we ask ourselves is whether we should raise rates more“.
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.
