🗣️Fed President Jerome Powell:
•The economy is expected to slow down this year and inflation will continue to fall.
•If we wait for inflation to drop to 2%, we will be waiting too long.
•We will make the FOMC interest rate decision at the meeting based on the data we have.
🗣️Fed President Jerome Powell:
•Three data from the second quarter increased confidence that inflation was falling
•If we see an unexpected weakening in the labor market, this will require us to react.
•We will not send any signals regarding any meeting today.
•The Fed's job is to make decisions based solely on data, not policy.
🗣️Fed President Jerome Powell:
•We need more progress on inflation.
•Our mistake was to think that inflation was temporary.
•The authorities want to be sure that inflation will decrease.
