⚠️ Jerome Powell (Chair of the #Fed):

✔ The US economy is performing very well.

✔ The labor market is strong (as pre-pandemic), with signs of cooling.

✔ Households are currently in a positive financial state.

✔ Demand and supply are returning to a better balance.

✔ In the fight against inflation, we need to be patient and allow the Fed's monetary policy to do its work.

✔ I expect GDP growth of 2% and higher.

✔ There was no progress in disinflation in the first quarter.

✔ My confidence in rapid inflation decline is lower than it was before.

✔ Today's PPI report was quite ambiguous.

✔ If inflation continues to be persistent— the Fed might have to maintain restrictive monetary policy for longer.

✔ The Fed is unlikely to decrease or increase the rate at the next meeting.

The post will be updated.