He Vice Chairman of the Board of Governors of the Federal Reserve (Fed), Phillip Jefferson, declared on Monday that will evaluate the incoming data, the evolution of the outlook and the balance of risks to set the appropriate orientation of the official interest rateaccording to Reuters
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“The official interest rate is in restrictive territory.”
“We continue to see greater balance in the labor market and a decline in inflation, although not as quickly as we would have liked.”
“We expect Consumer spending growth to slow toward the end of the year.”
“Too early to know whether the recent slowdown in the disinflationary process will be lasting.”
“April's better inflation reading is encouraging.”
“Fed staff estimate that oil prices PCE “They rose 4.1% annually in the first four months of 2024, with a 12-month change of 2.75%.”
“Long-term inflation expectations show that Americans believe the Fed will meet the 2% inflation target.”
“Tight monetary policy has weighed on the real estate market.”
Market reaction
These comments do not appear to have a notable impact on the valuation of the US Dollar. At press time, the US Dollar Index was unchanged at 104.50.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
