đșđž SUMMARY OF FED CHAIR POWELL'S REMARKS (23rd August, 2024):
1.â â "The time has come for Fed policy to adjust"
2.â â Fed "will do everything" to support a strong labor market
3.â â Fed does not welcome further weakening of the labor market
4.â â Confidence has grown that inflation is heading to 2%
5.â â Balance of risks to Fed mandates has changed
6.â â Inflation has declined significantly toward the goal
The Fed pivot is officially here.
US Market was up sharply on this news and now less than 1% away from new all time highs. đșđž
The Fed pivot that markets have been wanting for a year now is officially here.