He Federal Reserve Chairman Jerome Powellexplains the decision to keep the official interest rate, the federal funds rate, unchanged in the range of 5.25-5.5% and answers questions at the press conference after the meeting.
Featured Statements
“Risks to targets are becoming better balanced.”
“Our official interest rate is probably at its peak“.
“Is We are likely to lower rates at some point this year, but the outlook is uncertain and we remain vigilant about risks“
“Prepared to keep rates high longer if necessary.”
“We will carefully evaluate the incoming data to decide the policy.”
“Committed to both sides of the double mandate.”
“We need greater confidence that inflation will decline sustainably before lowering rates.”
“We will make decisions meeting by meeting“.
“Unexpected weakness in the labor market could also justify a response“.
“Our projections are not a plan, we will adjust based on conditions“.
About Jerome Powell (via Federalreserve.gov)
“Jerome H. Powell first assumed the role of Chairman of the Board of Governors of the Federal Reserve System on February 5, 2018, for a four-year term. He was re-elected to the position and sworn in for a second term. four years on May 23, 2022. Powell is also Chairman of the Federal Open Market Committee, the System's main monetary policy body. Mr. Powell has been a member of the Board of Governors since his inauguration on May 25, 2022. May 2012, to fill an unexpired term. He was re-elected as a member of the Council and was sworn in on June 16, 2014, for a term that ends on January 31, 2028.”
Source: Fx Street

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