🇺🇸The FED will announce interest rate in 10 minutes.

Current interest rate
= 5.25%-5.50%
Market expects FED to keep interest rate unchanged.

#FOMC | #FED | #JEROMEPOWELL

🚨FOMC Summary🚨

🇺🇲FED Chair Speech:

➮The unemployment rate was higher than projected, although it remains low at 4%.

➮While the inflation rate has decreased, it remains higher than we would like.

➮Inflation is a hardship for the people, and we want it to remain at 2%. 2% is the goal! - If we cut rates too quickly and too much, the inflation rate may reverse and begin to rise. But if we lower rates too late, we risk hitting the labor market!

We cannot make any promises right now. We need to see more data and respond to it. To fulfill both halves of our dual duty

➮Maximum employment with low inflation. Price stability is critical for the economy. We serve the people of America and businesses in the US 🇺🇲

➮Data prints lag, and they plan to be conservative with future data readings. The Fed welcomes today's CPI figure of 3.3%.

➮When asked if we will see 2-3 rate cuts this year and if the next CPI figure will be similar to the one this morning.

FED responds: "we must be reactive and receptive to the data. We will be tremendously data-dependent.We do not wish to discuss future readings/meetings."

#FOMC #FED #JEROMEPOWELL