BREAKING: FED Chairman Jerome Powell is Making a Speech - Here is His LIVE Presentation.
Federal Reserve Chairman Jerome Powell delivers a speech on monetary policy to business leaders in the Dallas-Forth Worth area. Powell's speech will be followed by a question- and-answer session.
Here are the most important sections from Powell's speech:
(New additions will be made as the conversation continues, you can access the most up-to-date information by refreshing the page)
• The economy is not sending signals that the Fed should be in a hurry to cut interest rates.
• Policy will gradually adjust to a neutral level, but the policy path is not predetermined.
• Inflation is expected to continue to fall towards the 2% target, but there may be a "fluctuating" course during this process.
• The Fed is determined to complete its mission of controlling inflation.
• A strong economy allows the Fed to make prudent decisions.
• The labor market is robust and inflation is moving toward a sustainable 2% path.
• The US economy has performed very well recently.
• The labor market has cooled enough that it no longer creates significant inflationary pressure.
• The Fed will be watching inflation data closely as it compares to its forecasts.
The comments come a week after
policymakers decided to cut the key
interest rate by another quarter point,
or 25 basis points. That followed a
half-point cut in September, leaving
the federal funds rate in the 4.5%-4.75% range.