FOMC Chairman Jerome Powell comments on the political outlook following the Federal Reserve’s decision to raise the official interest rate by 75 basis points to the 3-3.25% range after the September monetary policy meeting.
Featured Statements
“My main message is that the FOMC is firmly committed to lowering inflation.”
“Our goal is to bring inflation back down. To do that, we think we’ll need a softening of the labor market and below-trend economic growth.”
“So far, there is only modest evidence that the labor market is cooling.”
“In light of high inflation, we think we will have to bring the funds rate to a restrictive level, and keep it there for some time.”
“Before we cut rates we would like to be very sure that inflation comes back down to 2%.”
“There is no certainty about how the economy will develop, we need to bring policy to a restrictive level.”
“There is a possibility that we will reach a certain rate level and stay there, but not yet.”
“We have just moved to the lower levels of what we now view as restrictive.”
“There’s still a way to go as far as types go.”
Source: Fx Street

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