🚨Breaking news 🔥 🔥
Here are the first messages from the FED..
⏺️Powell: We do not want or welcome any further cooling in labor market conditions.
⏺️Powell is very close to our inflation target, our belief that we will reach our 2% target has strengthened.
⏺️Powell The slowdown in the labor market indicates normalization.
⏺️Powell We do not expect a greater slowdown in the labor market.
⏺️Powell The upcoming data will determine the pace and amount of the interest rate cut.
⏺️ The policy rate provides sufficient room to respond to risks, including further undesirable weakening in the labor market.
⏺️ It is clear that the labor market has cooled.
⏺️ Inflation has fallen significantly, we are now much closer to the target.
⏺️ The balance of risks for our tasks has changed. Upside risks to inflation have decreased, downside risks to employment have increased.
Powell has not made a hawkish 🦅 statement for now, and markets have priced this in.
Stay tuned for all developments.
