🗣️🇺🇸 Federal Reserve Chair Jerome Powell reveals details about future monetary policy 😱
"The Fed needs to see inflation fall more before cutting interest rates..."
Markets record a slight dip, with $BTC , $ETH , and $SOL falling. Hopes for early interest rate cuts have largely been destroyed.
Here’s the summary:
🎤🇺🇸 Jerome Powell addressed the following points:
🎤🇺🇸 We need to see more progress in the battle to curb inflation.
🎤🇺🇸 The Federal Reserve must be certain before making any decisions about lowering interest rates.
🎤🇺🇸 If the labor market weakens unexpectedly, it will prompt us to act.
🎤🇺🇸 We are aware of the risks of starting too early or too late regarding when to cut interest rates.
🎤🇺🇸 Inflation in the services sector is often resistant to decline.
🎤🇺🇸 Wage increases are moving on a downward path toward more sustainable levels.
🎤🇺🇸 Wage increases are still above equilibrium levels.
🎤🇺🇸 Inflation could return to the Federal Reserve’s 2% target by late next year or possibly the following year.
🎤🇺🇸 When asked about current political situations and their impact on monetary policy, Jerome Powell strongly supported the independence of the Federal Reserve in the United States.
🎤🇺🇸 The U.S. government deficit is extremely large and its trajectory is unsustainable. Sooner or later, this situation will require us to address it, and it’s better to do so sooner rather than later.
🎤🇺🇸 Most people believe we won't return to an era of extremely low rates, but no one knows for sure.
🎤🇺🇸 I would be grateful if the unemployment rate in the United States stabilizes at the right levels.
🎤🇺🇸 The 4% unemployment rate is still very low.
🎤🇺🇸 Inflation should be at or below 2% a year from now.
