The Chairman of the FOMC, Jerome Powellis commenting on the political outlook following the Federal Reserve’s decision to raise the official interest rate by 75 basis points, to the 2.25-2.5% range.
Featured Statements
“We are moving fast to reduce inflation“.
“We are determined to do it.”
“The economy is resilient.”
“It is essential that we bring down inflation.”
“The labor market is very tight, inflation is too high.”
“We continue the process of significantly reducing our balance sheet.”
“Consumer spending growth has slowed considerably“.
“Some of that reflects tightening financial conditions.”
About Jerome Powell (via Federalreserve.gov)
“Jerome H. Powell first took office as 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 of four years on May 23, 2022. Mr. Powell is also Chairman of the Federal Open Market Committee, the System’s main monetary policy body. Powell has been a member of the Board of Governors since taking office on May 25 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 ending on January 31, 2028.”
Source: Fx Street
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