⚡ Jerome Powell (Chairman of #FED ):
✔ The economy is overall strong.
✔ The labor market continues to cool, which is a noticeable improvement from earlier this year.
✔ Our decision today reflects growing confidence that stability in the labour market can be maintained.
✔ Consumer spending remains stable.
✔ Inflation has fallen significantly, but remains above our target level.
✔ The labor market is not a source of increased inflationary pressure.
✔ We expect stable GDP growth.
✔ The risks of rising inflation have decreased.
❗️ The risks of deterioration in the situation with the labor market (employment) have increased .
✔ Our forecasts are not a plan or a solution.
✔ We will adjust the Fed's monetary policy as needed.
✔ If the situation on the labour market worsens, we will be able to respond.
❗️ We can cut rates faster or slower, or take a pause if appropriate (it all depends on the economy.)
✔ Most Fed chairs supported today's 50bp cut, but there was a lot of debate.
✔ Today's interest rate decision is a good start for the Fed to begin easing monetary policy.
✔ I don't think we're behind schedule.
✔ The labor market is stable, we intend to maintain this.
✔ A 50 bp rate cut is NOT an attempt to catch up or a change in the pace of Fed easing.
✔ We want to keep the US economy strong.
✔ Retail sales and GDP for Q2 point to sustainable economic growth - this will also support the labor market.
✔ The Fed was very patient, other global central banks started to lower rates earlier.
✔ There is no need for further cooling of the labor market to reduce inflation to 2%.
✔ We are not yet declaring victory over inflation.
✔ Inflation in the housing market is one of the factors that slows down the process a little.
✔ We could well have cut the rate in July if we had had employment data at that time
