❗️Jerome Powell (Chapter #ФРС ):

(Part 2)

✔ The risks of a slowdown in economic activity have diminished.

✔ We will see a lot of macro data before the December meeting - another employment report, two more inflation reports, and many other reports.

✔ The Fed will make a decision based on the economic situation in the country.

✔ We have gained confidence that inflation is approaching 2%.

✔ I do not want to give many forecasts about the further trajectory of the Fed's monetary policy.

✔ The Fed will not comment on fiscal policy.

✔ The Fed's monetary policy remains restrictive.

✔ The labor market has cooled significantly.

✔ There is no need for further cooling of the labor market to achieve the inflation target.

✔ If the labor market situation worsens, we will react.

❗️We may start to cut rates at a slower pace if the US economy remains strong.

✔ Inflation may RISE again, but one or two months of bad macro data will not reverse the disinflation process.