🇺🇸 SUMMARY OF PRESIDENT'S STATEMENT #FED POWELL (June 12, 2024):
1. Inflation has decreased significantly but remains high
2. Fed reaffirms long-term inflation target of 2%
3. Many immigrants have entered the labor market, helping to increase the number of people working.
4. Fed says unemployment rate remains low
5. The economic situation is still unstable, the Fed is paying attention to risks.
6. The Fed needs to be more certain that inflation is moving towards 2%.
