In its semi-annual monetary policy reportthe US Federal Reserve said that the Gross Domestic Product (GDP) appears to be on track to rise moderately in the second quarteraccording to Reuters.
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“Our commitment to restore price stability is unconditional.”
“Most recent indicators suggest that private fixed investment may be moderating, but consumer spending remains strong.”
“Non-financial leverage vulnerabilities are moderate.”
“Leverage in the financial sector appears subdued and has changed little this year.”
“Recent market stresses for stablecoins and other digital assets show the structural fragilities of that rapidly growing sector.”
“We are firmly committed to restoring price stabilitynecessary to sustain a strong labor market.”
“Additional risks to global supply chains abound.”
“Rapid growth in labor costs is pushing up prices for all labor-intensive services.”
“About half of the decline in the activity rate since the pandemic began is due to the baby boomer generation reaching retirement age.”
“Some possible signs of a modest easing of labor market tensions have emerged recently.”
“Some measures of wage growth appear to have moderated.”
“If the gap between wage growth and productivity growth remains so wide in the future, there will be significant upward pressure on companies’ labor costs.”
“Broad funding markets proved resilient to geopolitical tensions.”
“Since US financial institutions’ direct exposures to Russia and Ukraine are small, financial spillovers have been limited to date.”
“High inflation, supply chain disruptions and ongoing geopolitical tensions remain substantial sources of uncertainty with the potential to further strain the financial system.”
Source: Fx Street
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