BREAKING NEWS:
Fed President Powell began his speech, there was a sudden drop in the bitcoin (BTC) exchange rate!
Fed Chairman Powell comments on the US economy live on air.
Here are the important words of Fed Chairman Jerome Powell at this point:
Cutting interest rates too early will have devastating consequences.
Waiting too long could mean causing unnecessary damage to the economy and the labor market.
My first thought on PCE met expectations; it's good to see it meeting expectations.
We want to be more confident before we cut interest rates.
If we see unexpected weakness in the labor market, it could trigger a policy response.
We have a chance to lower inflation without hurting the economy.
The likelihood of a recession right now is low.
You've seen really significant progress in fighting inflation.
The economy is not suffering from interest rates at this level.
