🇺🇸 SUMMARY OF FED CHAIR POWELL'S REMARKS (23rd August, 2024):

1.⁠ ⁠"The time has come for Fed policy to adjust"

2.⁠ ⁠Fed "will do everything" to support a strong labor market

3.⁠ ⁠Fed does not welcome further weakening of the labor market

4.⁠ ⁠Confidence has grown that inflation is heading to 2%

5.⁠ ⁠Balance of risks to Fed mandates has changed

6.⁠ ⁠Inflation has declined significantly toward the goal

The Fed pivot is officially here.

US Market was up sharply on this news and now less than 1% away from new all time highs. 🇺🇸

The Fed pivot that markets have been wanting for a year now is officially here.