If you missed! Here is
Key points from Powell's post-FOMC press conference yesterday:
- Lowering interest rates will support sustainable economic growth.
- The Fed's policy remains supportive, and there are no plans to raise rates yet.
- Near the neutral level, the pace of rate cuts may need to be slowed.
- We will be careful to avoid cutting rates too quickly.
- Inflation has fallen significantly and I expect it to continue falling towards the 2% target.
- The labour market remains stable and does not create inflationary pressure.
- While inflation may temporarily rise, one or two negative months will not change the overall downward trend.
- I will not allow inflation expectations to rise.
- Macroeconomic data has improved since the September meeting.
- We'll get more data by the December meeting, including one employment report and two on inflation.
- The Fed is prepared to adjust policy in response to changes in the economy.
-Geopolitical risks have increased.
-The election will not affect the Fed's monetary policy in the near term. However, actions by the Administration or Congress could have an impact that the Fed will take into account.
- I will not resign even if Trump asks me to , because the law prohibits demoting the Fed chairman.
