#杰克逊霍尔年会

Fed: If inflation continues to fall, it will support rate cuts !!!

Fed Governor Bowman said she remains cautious about the policy shift because there are still upside risks to inflation, but if price growth continues to slow, it would be appropriate for the central bank to begin to gradually lower interest rates.

Under the current policy stance, inflation should continue to fall, and if future data continue to show that inflation is continuing to move toward our 2% target, it would be appropriate to gradually lower the federal funds rate to prevent monetary policy from becoming too restrictive.

Bowman believes that "further progress has been made in reducing inflation" in recent months, but upside risks remain due to "increased geopolitical tensions, additional fiscal stimulus measures, and increased housing demand caused by immigration."

It is worth noting that on Wednesday, Eastern Time, the U.S. Bureau of Labor Statistics will release the preliminary report on the non-farm employment and wage census for the first quarter of 2024. Economists at JPMorgan Chase expect that the non-farm downward revision for this year will be about 360,000, but Goldman Sachs and Wells Fargo expect at least 600,000 downward revisions.

If the downward revision of employment exceeds 501,000, it will be the largest in 15 years, indicating that the cooling of the labor market will take longer and may be more severe than previously thought. The data may also affect the tone of Federal Reserve Chairman Jerome Powell's speech in Jackson Hole, Wyoming. #美联储何时降息？ #降息预期 #新币挖矿DOGS