📢 Federal Reserve Press Conference 🇺🇸🎙️

🔹 Jerome Powell:

1️⃣ We observe strengthening in the labor market, but the inflation report leaves some questions unanswered, indicating a slowdown in the progress of combating inflation.

2️⃣ Currently, maintaining the interest rate at the current level seems like a reasonable decision as long as the inflation level remains stable. However, we will continue to closely monitor the situation and are ready to adjust our policy according to changes in economic conditions.

Commentary:

Powell assessed the current situation as quite complex, considering the mixed signals from the labor market and the ambiguous inflation report. Despite strong labor market indicators, progress in combating inflation has slowed down, posing certain challenges for further Federal Reserve monetary policy.

Maintaining the interest rate at the current level appears to be a prudent decision to provide additional time to assess the situation and confirm the stability of the inflation level. It is expected that a clearer vision of future steps and plans of the Federal Reserve will be presented at the upcoming press conference on May 1st.

It is important to note that the head of the Federal Reserve drew attention to potential risks associated with the global economy, including the situation in the Middle East, and confirmed the Federal Reserve's readiness to maintain the interest rate at the current level for as long as necessary to achieve stability and sustainability in the economy.

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