US Federal Reserve Chairman Jerome Powell speaks at a press conference
US Federal Reserve Chairman Jerome Powell speaks at a press conference. In general, there is a lot in common with the US Federal Reserve's cover letter after the interest rate decision. But there are additional theses. So far, however, no sensations. And, more importantly, without much positive for the markets.
Main points:
- Inflation has decreased significantly, but is still high. We maintain our restrictive policy.
- This year, the Fed has not received greater confidence in reducing inflation to its target level of 2%.
- If the economy remains stable and inflation continues, then rates will remain at the same level as long as necessary.
- The Fed needs more positive macro data to strengthen confidence in the speedy achievement of its inflation target. Â
- We maintain increased attention to inflation risks.
- The economy has made significant progress, the number of jobs is growing, the unemployment rate remains low (pre-election theses for Biden - editor's note).Â
- The labor market is stabilizing, and there is a path towards balance.
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