🇺🇸 6 KEY POINTS FROM CHAIRMAN POWELL'S SPEECH #FED (8/23/24)
1️⃣The Fed sees a need to adjust monetary policy.
2️⃣The Fed "will do whatever it takes" to support the labor market more strongly
3️⃣The Fed does not want to see the labor market weaken further.
4️⃣Confidence that inflation will fall to 2% is increasing.
5️⃣The Fed's risk assessment has changed.
6️⃣Inflation has fallen significantly, and we are getting closer to our 2% target.
These points suggest that the Fed is shifting policy, possibly toward a more dovish direction. This is what the market has been expecting for a year. The market reacted positively to the news and is now less than 1% away from a new record high.
