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%.
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“We are watching the rise in longer-term yields, it may have implications for monetary policy.”
“Tightening financial conditions from rising long-term rates, strengthening Dollar and falling stocks could affect rate conditions in the future“
“Higher long-term rates cannot be a reflection of higher policy rates on our part.”
“It does not appear that an expectation of higher Fed policy rates is causing higher long-term rates.”
“We are not confident that financial conditions are sufficiently restrictive.”
“We have not made any decisions about future meetings“.
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.
