FOMC Chairman Jerome Powell made comments about thehe political perspectives after the decision of the Federal Reserve to raise the interest rate by 75 basic points to the range of 3.75-4% after the monetary policy meeting in November.
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“Financial conditions have tightened quite a bit.”
“Short-term inflation expectations have risen since the last meeting, we don’t think they are that indicative.”
“It’s still very concerning.”
“We don’t have a clearly identified way of knowing when inflation takes hold.”
“We have to use our tools hard, but judiciously, so we have to control inflation.”
“Policy lags are thought to be long and variable, more recent literature suggests that the lags are shorter.”
“Financial conditions now react well before policy moves.”
“A lot of economists think that once financial conditions change, the effects are quicker than before.”
Source: Fx Street
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