🚨‼️Chairman Powell from the Fed: ‼️‼️‼️‼️‼️‼️‼️‼️‼️‼️‼️‼️
-First quarter data did not support the growing confidence in the inflation path the Fed needs to cut interest rates.
-High inflation is not the only risk we face. More positive data will strengthen our confidence in inflation.
We have made significant progress towards the -2% inflation target, with the latest monthly readings showing modest progress.
Chairman Powell from the Fed:
-Reducing moderation too soon or too much risks reversing the progress of inflation.
-Tight policy helps put downward pressure on inflation.
Risks to achieving employment and inflation targets are better balanced.
-Labor market conditions have cooled, although they have not overheated and remain strong.
