🚨🇺🇸Here is the full coverage of #JeromePowell Powell's speech, in addition to journalists' questions and his responses to them.
📍🇺🇸 The #USGDP Federal Reserve is committed to returning inflation towards its specified target and optimal exploitation of the labor market.
📍🇺🇸In light of recent developments, the US Federal Reserve has become more cautious.
📍🇺🇸Additional tightening of monetary policy will depend on how economic data develops.
📍🇺🇸Recent data indicates that economic activity is growing at a very strong pace.
📍🇺🇸Conditions in the labor market are still very strong, although the pace has clearly slowed.
📍🇺🇸Demand for employment still exceeds supply.
📍🇺🇸US inflation is still higher than its target.
📍🇺🇸Inflation has moderated clearly during the recent period.
Some positive data does not mean that we have achieved our goal.
📍🇺🇸We still have a lot of time to achieve the inflation target.
The US Federal Reserve understands the difficulty of inflation for citizens.
📍🇺🇸The US Federal Reserve raised interest rates significantly to control high inflation.
📍🇺🇸The US Federal Reserve is committed to a tightening monetary policy in an attempt to control inflation and move towards its specified target.
📍🇺🇸 The lack of calm conditions in the labor market may represent a danger to achieving the US Federal Reserve’s inflation target.
📍🇺🇸The US Federal Reserve is monitoring local and global developments very carefully.
📍🇺🇸The upcoming interest rate decisions will be taken at each meeting separately, and will depend on the upcoming economic data.
📍🇺🇸The US Federal Reserve is committed to returning inflation towards its specified target, and this may require that conditions in the labor market weaken slightly.
📍🇺🇸 We understand that the decisions of the US Federal Reserve affect all citizens.
📍🇺🇸All decisions taken by the Fed are consistent with its commitments to achieving the goals of inflation and optimal exploitation of the labor market.
🚨🇺🇸Jerome Powell answers journalists’ questions:
📍🇺🇸Inflation has clearly decreased, but it is still above its target.
📍🇺🇸Unemployment has risen slightly, but conditions in the labor market are still very strong.
📍🇺🇸The US Federal Reserve is not yet sure that it has reached the peak of raising interest.
📍🇺🇸 Tight monetary policy should remain for a while.
We will take a decision to tighten monetary policy further if this is appropriate to curb high inflation.
📍🇺🇸We have a lot of economic data, whether inflation data, labor market data, or economic growth data.
📍🇺🇸All of this data affects interest decisions.
📍🇺🇸Making a decision to raise interest again may depend on the pace of upcoming data.
📍🇺🇸Economic recession is not among our basic scenarios.
📍🇺🇸Financial conditions are very restricted at the moment and this can be clearly seen.
📍🇺🇸It seems that our monetary policy is starting to affect the economy, but the American economy appears to be stronger and more resilient than we thought.
📍🇺🇸We are dealing with the current economic situation as it currently is.
📍🇺🇸If members of the US Federal Reserve see that the economic situation requires raising interest again, it will take a decision to do so.
📍🇺🇸The current question currently is to what extent the US Federal Reserve can raise the interest rate.
📍🇺🇸The next question will be to what extent the US Federal Reserve can maintain high interest rates.
📍🇺🇸I think that the thinking might be to raise the interest rate once additionally, not twice.
📍🇺🇸 The US Federal Reserve is monitoring geopolitical tensions as they occur in Russia and Ukraine and between Hamas and Israel.
📍🇺🇸The best task the US Federal Reserve can do for the United States is to restore the goal of price stability.
📍🇺🇸We are trying to restore the inflation target without unemployment rising too high.
📍🇺🇸Economic growth is very strong.
📍🇺🇸 Most likely, we may need economic growth to slow down and conditions in the labor market to calm down, in order for us to restore the inflation target.
📍🇺🇸We are currently working together to achieve the inflation goal.
📍🇺🇸We may need some slowdown until the goal of price stability is achieved.
📍🇺🇸Economic data is what will tell us what to do and whether we will continue to raise interest or not.
📍🇺🇸 Interest expectations for US Federal Reserve members may change based on economic developments.
📍🇺🇸 Interest expectations were changed during the quarterly meetings of the US Federal Reserve based on economic developments.
📍🇺🇸The US Federal Reserve moves each meeting individually, and this depends on the economic data.
📍🇺🇸The US Federal Reserve is moving very cautiously, and monetary policy is tightening at the present time, and we are seeing its repercussions on the American economy currently.
📍🇺🇸We monitor many economic conditions and developments.